- Billet prices declined up to INR 500/t amid weak demand.
- Hyderabad billet market saw steepest drop to INR 43,500/t.
India’s induction furnace (IF) steel prices recorded a slight drop on 12 February. Offers announced by the mills decreased by INR 600/tonne (t) d-o-d compared to the previous trading session.
Sponge iron offers fell by INR 100-450/t d-o-d, with the steepest drop of INR 400/t to INR 26,600/t in Hyderabad.
Billet prices dropped by INR 100-500/t d-o-d across locations, with the steepest fall of INR 500/t to INR 43,500/t in Hyderabad market.
Rebar (Fe 500) prices decreased by INR 100-600/t d-o-d. Prices decreased the highest Mumbai, by INR 600/t to INR 49,600/t .
Overall, the market remained volatile throughout the day along with steady trading activity. However, buying interest was low as the past few days were characterised by uncertainty over offers.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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