Induction furnace (IF) finished steel prices in Durgapur, West Bengal, saw a marginal fall today. However, with decline in offers, spot finished steel sales improved, SteelMint noted.
Sponge iron and billet prices were more or less stable today and around 6,200 tonnes (t) of sponge P-DRI trade happened at INR 28,600-28,900/t and around 2,800 t of billet trades were recorded at INR 44,400-44,600/t, both on DAP Durgapur basis.
Finished long steel prices decreased by INR 200/t. Sellers floated offers for rebar Fe 500 at INR 48,200- 48,500/t and for wire rods of 5.5mm at INR 48,000-48,200/t exw-Durgapur. Collectively, around 6,430 t of deals were recorded by SteelMint in today’s trading window.
Semi-finished offers were supported by the slight rise in prices in the northern region. Active trades were seen in the finished long segment and market participants are hoping to improve this in the coming days, sources informed SteelMint.
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