- IF mill offers vary up to INR 500/t d-o-d
- Billet and rebar prices reflect mixed sentiments
India’s induction furnace (IF) steel market showed mixed price trends across commodities today. Mills’ offers varied by up to INR 500/tonne (t) compared to the previous trading session.
Sponge iron offers varied by INR 100-200/t d-o-d across regions, with no major price changes observed in key markets.
Billet prices showed mixed sentiment, fluctuating by INR 100-500/t d-o-d across markets. Hyderabad recorded a rise of INR 500/t to INR 44,000/t, while in Mumbai prices declined by INR 500/t to INR 41,000/t.
Rebar (Fe 500) prices showed mixed sentiments, fluctuating by INR 100-500/t across markets. Hyderabad recorded the highest rise of INR 500/t to INR 50,000/t, while in Mumbai prices declined by INR 500/t to INR 51,000/t.
The market was volatile throughout the day and trading activities remained firm. Buying interest, however, was low as offers were slightly on the higher side.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 15,250/t.
Click here for rebar brand-wise details
BigMint’s price assessment (Region wise)
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