India’s induction furnace (IF) steel market witnessed mixed price trends, with offers across mills varying in the range of INR 100-500/tonne (t) d-o-d, on 28 March.
Sponge iron prices fell by INR 100-300/t. Prices witnessed a fall in Rourkela’s sponge iron market by INR 300/t.
Billet prices fell by INR 100-450/t. A fall of INR 450/t was seen in the Ramgarh billets market today.
Also, rebar (Fe 500) offers varied in the range of INR 100-500/t. Prices increased in the Hyderabad market by INR 500/t.
Overall, markets across regions witnessed price volatility in both semi-finished and finished longs. Spot trades were moderate throughout the day as buyers remained cautious in making bulk bookings. Participant expect the trend to remain the same for the remaining days of the month and prices may see some positive moves in April, SteelMint notes.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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