- IF billets, rebar offers rise by INR 100-200/t
- Sponge offers fluctuate by INR 100-300/t
India’s induction furnace (IF) steel market witnessed positive sentiments today, with mills’ offers increasing by INR 100-400/tonne (t) d-o-d.
Sponge iron prices varied by INR 100-300/t d-o-d.
Billet tags increased by INR 50-400/t d-o-d, with the steepest rise of INR 400/t seen in Rourkela. Except in Ahmedabad and Chennai, which witnessed a fall of INR 100-200/t.
Rebar (Fe 500) prices increased in the range of INR 100-200/t d-o-d. The sharpest rise of INR 200/t was seen in Rourkela and Durgapur. However, in Chennai and Jalna, these witnessed a fall of INR 200/t.
Today, limited buying activities were seen amid increased prices. Buyers were cautiously procuring material at current price levels owing to volatility in raw material prices. As per the current scenario, prices are likely to remain volatile in the near term.
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BigMint’s price assessment (region-wise)
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