India’s induction furnace (IF) steel prices showed mixed trends on 4 September 2024. Offers announced by mills fluctuated by INR 50-500/tonne (t) d-o-d compared to the previous trading session.
Sponge iron prices varied by INR 50-500/t, with the steepest fall of INR 500/t seen in the Durgapur market. A slight increase of INR 100/t was observed in the Raipur, Raigarh, and Jharsuguda markets.
Billet prices varied by INR 50-200/t, with the sharpest decrease of INR 200/t seen in the Durgapur, Ahmedabad, and Mumbai markets. The highest increase was observed in the Raipur and Rourkela markets, where prices rose by INR 150/t.
Rebar (Fe 500) offers fluctuated by INR 100-400/t. The sharpest hike was noted in the Raigarh market, while a drop of INR 100/t was seen in the Durgapur market.
Today, moderate trading activity was witnessed across locations. Slight improvements were seen in the buying activities for raw materials (sponge iron and billet) and finished steel compared to the past few days. Market participants expect that prices will hover in the same range.
Click here for rebar brand-wise details
BigMint’s price assessment (region-wise)
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