- Induction furnace steel market marked by sharp volatility
- Mill offers up by INR 100-500/t, down INR 100-250/t
India’s induction furnace (IF) steel market was marked by some intense volatility today , with mill offers falling by INR 100-500/tonne (t) d-o-d in certain regions, but increasing by INR 100-250/t in others.
Sponge iron prices decreased by INR 100/t d-o-d at Bellary and Hyderabad, but increased by INR 50-100/t, with the higher end of the spectrum seen in Ramgarh.
Billet tags decreased by INR 100/t d-o-d, with the highest drop of INR 200/t seen in Hyderabad. But prices increased by INR 250/t in Raigarh.
Rebar (Fe 500) prices decreased by INR 100-500/t d-o-d. Prices dropped sharply in Rourkela by INR 500/t, but showed an increase of INR 100/t in Durgapur.
The overall market was volatile throughout the day, and trading activities remained firm. Buying interest, however, was low as offers were slightly on the higher side, with buyers anticipating further correction. Price trends remained mixed across regions, with some locations witnessing a decline while others saw slight increases, reflecting a cautious and uncertain market sentiment.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
Leave a Reply