- All segments witness mixed price movements
- Market sees limited trade activity across regions
India’s induction furnace (IF) steel market experienced moderate trade activity today. Offers floated by mills fluctuated in the range of INR 50-500/tonne (t) d-o-d.
Sponge iron offers varied by INR 50-100/t d-o-d. Prices marginally fell in Durgapur market by INR 100/t whereas inched up by INR 50/t in Ramgarh.
Billet tags decreased by INR 50-200/t d-o-d across the locations except in Ramgarh market where price rise of INR 50/t.
Rebar (Fe 500) prices varied by INR 100-500/t d-o-d, with the highest increase of INR 500/t seen in Hyderabad.
Today, both feedstock and finished products showed mixed price movements, and limited trade activity was observed across regions. Manufacturers adjusted trade discounts in the spot market. Moreover, as per market participants, prices are likely to move within a narrow range in the near term.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 13,400/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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