- Trade activities improve d-o-d
- Prices expected to remain firm this week
India’s induction furnace (IF) steel prices recorded variations d-o-d across regional markets on 26 March.
Sponge iron offers swung in the range of INR 50-650/t d-o-d, with the sharpest rise of INR 650/t seen in Raigarh, where prices settled at INR 25,450/t. Meanwhile, prices dropped in Durgapur and Chennai by INR 200/t to INR 26,100/t and INR 28,300/t respectively.
Billet prices fluctuated by INR 50-550/t d-o-d across locations, with the steepest rise of INR 550/t recorded in Raigarh location where prices reached INR 40,150/t.
Rebar (Fe 500) prices fluctuated by INR 100-600/t d-o-d. Prices rose by INR 600/t in Jalna and Raigarh locations to INR 51,600/t and INR 45,000/t respectively. However, major drop of INR 200/t witnessed in Mumbai and Durgapur markets to INR 50,400/t and INR 45,500/t respectively.
Today, a slight improvement in trading activity was observed in the second half of the trading session. Market participation remained moderate while manufacturers tried to raise their offers especially in the northern, western central regions. However, slow lifting of previously booked material was observed in the finished segment. Prices are expected to remain firm this week.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 15,000/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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