India’s induction furnace (IF) steel market witnessed moderate trading activities today, with mills fluctuated offers by INR 50-200/tonne (t) d-o-d.
Sponge iron offers remained stable across the regions and no major changes as observed.
Billet tags decreased by INR 50-200/t d-o-d across locations, except in Raipur and Mandi where prices rose slightly by INR 50/t and 100/t respectively.
Rebar (Fe 500) tags remained stable across locations except in Jalna where prices increased by INR 100/t.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 12,100/t.
Today, the spot market witnessed limited buying enquiries. Most buyers engaged in need-based purchases, while overall activity remained subdued due to market closures and inactivity during the festive season. Given the current scenario, prices are expected to remain volatile in the short term.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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