India’s induction furnace (IF) steel market witnessed upward price trends. Offers across mills rose by INR 1,400/tonne (t) d-o-d on 6 May, 2024.
Sponge iron prices increased by INR 500-1,000/t. Prices rose by INR 1,000/t in the Jharsuguda market.
Billet prices increased by INR 500-1,100/t. The Raipur market saw an increase of INR 1,100/t today.
In addition, rebar (Fe 500) offers rose in the range of INR 300-1,400/t. Prices in Raigarh were up by INR 1,400/t d-o-d.
The finished longs (rebar) steel market saw active demand especially in central and eastern regions. This has led to surge in offers across products followed by price rise in the northern region during the first half today, BigMint noted.
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SteelMint’s price assessment (Region wise)
