Induction furnace (IF)-route semi-finished steel prices in Durgapur, West Bengal, increased today. Offers floated by the mills rose up to INR 600/t d-o-d.
Sponge iron prices increased by INR 150/t today. Around 2,300 t of deals were concluded at INR 30,800-31,200/t DAP Durgapur.
Billets prices edged up by INR 150/t. Sellers increased offers following a price uptick in northern region. However, the market saw limited buying enquiries and around 2,800 t of trade was recorded at INR 46,500-46,800/t DAP Durgapur.
Finished long steel prices rose by INR 600/t. Sellers floated offers for rebars Fe 500 at INR 50,200- 50,500 and wire rods 5.5mm at INR 50,000-50,300/t exw-Durgapur, and collectively around 2,050 t of deals were recorded by SteelMint on today’s trading window.
Overall, the market witnessed a positive price trend in semi-finished and finished long steel segment. However, spot trade remained moderate as no bulk bookings were seen. Prices are expected to remain volatile in coming days as buyers remain cautious about procurement amid subdued demand of finished steel, SteelMint noted.
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