India’s induction furnace (IF) steel market witnessed positive price trends, as offers floated by the mills increased by up to INR 1,100/tonne (t) d-o-d on 1 August.
Sponge iron prices rose in the range of INR 50-700/t. Prices increased in Raigarh’s sponge iron market by INR 700/t.
Billet prices surged in the range of INR 200-1,100/t. Prices rose sharply by INR 1,100/t in Mumbai’s billet market.
Also, rebar (Fe 500) offers rose in the range of INR 100-800/t across regions. Prices edged up in Mumbai market by INR 800/t.
The semi-finished and finished long steel market saw an uptrend in prices across regions. Demand was active throughout the day amid raw material shortage in some locations. Market participants are expecting price recovery due to sufficient orders with semis producers.
SteelMint’s price assessment (Region wise)
Leave a Reply