India’s induction furnace (IF) steel market witnessed positive price trends, while offers across mills surged by up to INR 900/tonne d-o-d, on 12 August.
Sponge iron prices rose in the range of INR 100-500/t. Prices increase in Ramgarh and Jharsugda’s sponge iron market by INR 500/t.
Billet prices rose in the range of INR 200-900/t. Prices noticed a rise of INR 900/t in Mandi Gobingarh’s billets market.
Also, rebar (Fe 500) offers increased in the range of INR 300-800/t across regions. Prices edge up in Durgapur’s market by INR 800/t.
Overall, the market observed positive price trends for semi-finished and finished longs in most of the regions. Firm (active) demand was observed in semis throughout the day. Moreover, in the second half, participants were cautious of bookings due to the prevailing higher offers amid upcoming holidays, sources informed SteelMint.
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SteelMint’s price assessment (Region wise)
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