India’s induction furnace (IF) steel prices rose on 4 december as offers floated by mills rose by up to INR 450/tonne (t) compared to the last trading day.
Sponge iron prices edged up by INR 100-450/t, with the maximum rise of INR 450/t seen in the Raigarh and Hyderabad markets.
Billet prices increased by INR 100-450/t, with the sharpest hike seen in the Rourkela market.
Meanwhile, rebar (Fe 500) offers rose in the range of INR 100-300/t. Price in Raigarh climbed INR 300/t.
Overall, the semi-finished steel market recorded a slight hike in offers following the hike in finished steel offers in different regions.
Only need-based buying was observed in the market and so trade volumes were muted as buyers remained cautious about bulk bookings.
Click here for rebar brand-wise details
BigMint’s price assessment (Region wise)
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