- Indian IF steel prices rise as mills increase offers across major markets.
- Sponge iron, billet and rebar prices increase amid improving market sentiment.
Indian induction furnace (IF) steel prices increased sharply as mills raised their offers across several markets, supported by improved sentiment and active price revisions.
Sponge iron offers increased by INR 50-400/t day-on-day. The sharpest rise of INR 400/t was recorded in Raipur, taking prices to INR 28,100/t.
Billet prices fluctuated within the range of INR 100-500/t d-o-d across various locations. The highest increase of INR 500/t was observed in Jalna, where prices reached INR 45,000/t.
Rebar (Fe 500) offers also increased by INR 100-800/t across markets. The Jalna market witnessed the highest rise of INR 800/t, with prices reaching INR 51,500/t.
The finished long steel market saw moderate demand across regions and with rising prices in the northern region, steel prices strengthened in key locations.
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