India’s induction furnace (IF) steel market witnessed subdued sentiments today, with mills’ offers falling by INR 50-500/tonne (t) d-o-d.
Sponge iron prices decreased by INR 50-200/t d-o-d, with the highest drop of INR 20/t seen in Raigarh.
Billet tags declined by INR 100-200/t d-o-d, with the steepest fall of INR 200/t seen in Ahmedabad and Raigarh.
Rebar (Fe 500) prices decreased in the range of INR 100-500/t d-o-d. The sharpest drop of INR 500/t was seen in Hyderabad.
Today, market activities were slow, with a lower volume transacted. Mills offered discounts depending upon payment and delivery terms to liquidate their material. As per market participants, prices will remain volatile in the near term.
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BigMint’s price assessment (region-wise)
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