- Buyers exercise caution amid fall in steel prices
- Sellers face inventory pressure
India’s induction furnace (IF) steel prices declined on 10 December 2024. Mills reduced offers by INR 100-500/tonne (t) across markets compared to the previous trading session.
Sponge iron prices dropped by INR 150-400/t d-o-d, and the sharpest fall was observed in Durgapur.
Billet tags decreased by INR 150-350/t d-o-d, with the steepest plunge recorded in the Raigarh market.
Rebar (Fe 500) offers dived by INR 100-500/t d-o-d. The sharpest dip of INR 500/t was witnessed in the Rourkela region.
The market remained silent today, as buyers adopted a wait-and-watch approach amid a fall in steel prices. Sellers encountered inventory pressure and liquidity issues, and slow activity in the finished segment pushed sellers to keep prices on the lower side.
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BigMint’s price assessment (region-wise)
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