Induction furnace (IF)-route semi-finished steel prices in Durgapur, West Bengal, increased today. Offers floated by the mills rose up to INR 350/t.
Sponge iron prices edged up by INR 350/t today. Around 3,250 t of trades happened at INR 28,800-29,200/t DAP Durgapur.
Billet prices increased by INR 250/t and around 3,700 t of trades were recorded at INR 44,700-44,800/t DAP Durgapur.
The finished long steel segment saw prices rising by INR 300/t. Sellers floated offers for rebar (Fe 500, 12-25mm) at INR 48,300- 48,700/t, and for wire rods (5.5mm) at INR 48,200-48,500/t exw Durgapur. In all, around 3,250 t of deals were recorded by SteelMint today.
Semis prices witnessed a hike in the first half today due to positive sentiments in north India. Sellers raised offers initially but demand remained moderate throughout the day, which ultimately led to the decline in prices later in the day. The market has remained volatile in the recent past and this trend is likely to continue for some time, sources informed.
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