Induction furnace (IF)-route semi-finished steel prices in Durgapur, West Bengal, have increase today. Offers floated by the mills rose by up to INR 1,300/t.
Sponge iron prices increased by INR 150/t today. Around 11,100 t of trades happened at INR 30,400-30,500/t DAP Durgapur.
Billet prices rose by INR 300/t and around 4,350 t of trade was recorded at INR 45,400-45,600/t DAP Durgapur.
The finished long steel segment saw prices increasing by INR 1,300/t. Sellers floated offers for rebar (Fe 500) at INR 49,500- 50,000/t, while for wire rod (5.5mm) offers were at INR 50,000-50,200/t exw Durgapur. In all, around 9,000 t of deals were recorded by SteelMint today.
The market saw a positive direction as regards finished long steel prices, while semi-finished steel prices improved marginally. Active spot trades were witnessed due to price correction in the northern region, which kept offers supported. Demand for finished steel has been improving over the last few days, sources informed.
Leave a Reply