- Mills raise offers on improved buying
- Moderate trades seen amid rising tags
India’s induction furnace (IF) steel prices increased today, as offers floated by mills rose by INR 50-500/tonne (t) d-o-d.
Sponge iron offers fluctuated by INR 100-350/t d-o-d. The highest increase of INR 350/t was seen in the Ramgarh and fall in Hyderabad market by INR 150/t.
Billet tags varied by INR 100-300/t d-o-d. The steepest uptick of INR 300/t was seen in Ahmedabad region and major fall in Chennai market.
Rebar (Fe 500) offers varied by INR 200/t in most of the locations.
Today, moderate trade activities were seen amid increasing prices. Mills gradually tried to push up prices owing to improvements in buying, though it varied regionally. As per market participants, trade momentum is still yet to pick up, particularly in the finished steel segment.
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BigMint’s price assessment (region-wise)
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