- Limited trading as observed d-o-d
- Rebar prices varied in the range of INR 100-500/t d-o-d
India’s induction furnace (IF) steel prices witnessed mixed trends d-o-d on 1 May.
Sponge iron prices increased by INR 50-100/t d-o-d, with the sharpest rise of INR 100/t seen in Raipur where prices reached INR 25,800/t.
Billet prices fluctuated by INR 50-200/t d-o-d across locations, with the highest increase of INR 200/t recorded in Mandi Gobindgarh and stood at INR 45,400/t.
Rebar (Fe 500) prices varied by INR 100-500/t d-o-d. Prices dropped by INR 500/t in Hyderabad market to INR 48,500/t. However, prices increased in Mandi location by INR 400/t to INR 50,500/t.
Prices rose in most markets due to slight improvements in trading activities which vary region wise. Limited trade activities were observed d-o-d. Across commodities, manufacturers attempted either to keep offers stable or to raise them slightly. As per current scenario, prices likely to remain firm further in coming days, rest depends upon finished steel sales and order bookings.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 16,300/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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