India’s induction furnace (IF) steel prices witnessed a downward trend on 19 July, 2024. Offers announced by the mills dropped by INR 100-650/tonne (t) d-o-d across markets compared to the previous trading session.
Sponge iron prices decreased in the range of INR 100-450/t. The sharpest decrease was seen in the Durgapur market.
Billet prices decreased by INR 200-650/t. The sharpest decrease was seen in Rourkela market.
Rebar (Fe 500) offers fell in the range of INR 100-500/t and the steepest fall was seen in the Ahmedabad and Rourkela markets.
Trading activities continued to remain slow today as buyers opted for a wait-and-watch mode amid unclear market trends. Prices remained slightly volatile today specifically in the semi-finished steel segment. As per market participants, such fluctuation in prices may continue in the near term.
Click here for rebar brand-wise details
BigMint’s price assessment (region wise)
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