- Prices strengthen across semi-finished and finished long products
- Moderate trade volumes amid cautious buying, optimism for demand recovery
India,s IF steel market recorded a rise in prices on 17 December, supported by demand in the semi-finished and finished segements across markets. Trading activity remained moderate, and no bulk bookings were recorded.
Sponge iron offers increased in the range INR 100-250/t d-o-d, with the Durgapur and Raigarh markets recording a rise of INR 250/t each to INR 22,400/t and INR 22,700/t respectively.
Billet offers edged up by between INR 100-300/t d-o-d, with the maximum rise of INR 300/t to INR 39,900/t recorded in the Mumbai market.
Rebar (Fe 500) prices rose by between INR 100-400/t d-o-d, with the maximum rise of INR 400/t to INR 39,800/t recorded in the Rourkela .
Overall, market sentiment remained strong across regions on the back of strong demand in semi-finished and finished long segments. No bulk bookings were reported from the buyers’ side, and market participants expect a rise in sales of finished long products over the course of the week beginning 15 December.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 14,000/t.
Click here for rebar brand-wise details
BigMint’s price assessment (Region wise)
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