- IF rebar prices rise INR 800/t in Raigarh
- Improved demand supports price hikes
India’s induction furnace (IF) steel prices rose on 19 December, as sellers raised prices, having received bookings steadily throughout the week.
Sponge iron offers increased by INR 100-350/t d-o-d, with a steep rise of INR 350/t in the Raipur market to INR 22,900/t.
Billet prices rose by INR 300-600/t d-o-d across locations, with the sharpest price increase of INR 600/t in Rourkela and Raigarh regions to INR 36,450/t and INR 36,800/t.
Rebar (Fe 500) prices moved up by INR 100-800/t d-o-d. Prices increased the highest in Raigarh, by INR 800/t to INR 39,600/t.
Today, trade activity remained healthy, supported by improved demand. Prices also increased, driven by active buying. Given the current demand-supply dynamics, prices are expected to remain supported in the coming week.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 14,450/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
Leave a Reply