- Despite price rise in some markets, trading remains dull
- Rebar prices varied in the range of INR 100-500/t d-o-d
India’s induction furnace (IF) steel prices witnessed mixed trends d-o-d on 30 April.
Sponge iron prices increased by INR 100-400/t d-o-d, with the sharpest rise of INR 400/t seen in Hyderabad where prices reached INR 27,200/t. However, prices slight dropped in Chennai location by INR 200/t to INR 27,500/t.
Billet prices rose by INR 100-600/t d-o-d across locations, with the highest increase of INR 600/t recorded in Ahmedabad at INR 45,600/t.
Rebar (Fe 500) prices varied by INR 100-500/t d-o-d. Prices dropped by INR 500/t in Jalna and Hyderabad markets.
Prices rose in most markets, supported by strong sales in yesterday’s session in Central and Eastern belts. However, buyers stayed away from aggressive buying in the finished segment. Across commodities, manufacturers attempted either to keep offers stable or to raise them slightly. As per current scenario, prices likely to remain volatile for this week, rest depends upon finished steel sales and order bookings.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 16,450/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
Leave a Reply