India’s induction furnace (IF) steel prices witnessed a positive trend on 2 July, 2024. Offers announced by the mills increased by INR 100-800/tonne (t) d-o-d across markets compared to the previous trading session.
Sponge iron prices rose by INR 100-500/t, with the highest rise seen in the Raipur market.
Billet prices increased by INR 100-800/t, with the sharpest rise seen in Durgapur market.
Rebar (Fe 500) offers increased in the range of INR 100-300/t across all the regions, except for Ahmedabad market where a price drop of INR 200/t was noticed.
Average trades were observed in the spot market today as buyers remained active and procured material amid rising price trend. A similar trend in sponge iron and steel billet further led to the current scenario. As per the participants, such volatility in prices may persist in the near-term.
Click here for rebar brand-wise details
BigMint’s price assessment (region wise)
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