India’s induction furnace (IF) steel market witnessed dull sentiments prevailing today. Offers floated by the mills decreased in the range of INR 100-800/tonne d-o-d on 1 July, 2024.
Sponge iron offers dropped by INR 250-650/t. The highest decline of INR 650/t was seen in the Durgapur market.
Moreover, billet offers edged down in the range of INR 100-800/t. The major price drop of INR 800/t was seen in Durgapur market.
Also, rebar (Fe 500) offers edged down in the range of INR 200-500/t across regions. Prices witnessed a major drop of INR 500/t in Durgapur and Hyderabad markets.
Overall, the market noticed a downfall in terms of offers and prices. Trading activity remained slow as buyers remained inactive due to lack of clarity in the market trend as prices remained volatile today.
Click here for re-bar brand wise details
BigMint’s price assessment (Region wise)
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