- Rising finished steel prices boost market confidence
- Mills may keep prices firm amid strong order books
India’s induction furnace (IF) steel prices edged up on 15 January across regions.
Sponge iron offers rose by INR 300-850/t d-o-d, with the steepest hike of INR 850/t recorded in Ramgarh where prices settled at INR 24,700/t.
Billet prices increased by INR 200-1,600/t d-o-d across locations, with the steepest rise of INR 1,600/t in Ahmedabad, where prices settled at INR 44,700/t.
Rebar (Fe 500) prices increased by INR 300-1,400/t d-o-d. Prices increased the highest in Ahmedabad by INR 1,400/t to INR 49,600/t.
Today, prices continued to rise. Moderate trade activities were observed across segments, though this varied by location. Based on the current scenario, prices are likely to remain firm this week, as mills have received moderately strong bookings in the last 2-3 days.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 16,050/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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