India’s induction furnace (IF) steel market witnessed mixed trends today, with mills varying offers by INR 50-300/tonne (t) d-o-d.
Sponge iron offers fluctuated by INR 50-250/t d-o-d, with a major hike of INR 250/t in Raigarh. However, In Chennai region, prices fell by INR 300/t.
Billet tags moved up INR 50-300/t d-o-d, with the sharpest hiked in Ahmedabad market by INR 300/t. In Chennai market, prices decreased by INR 200/t.
Rebar (Fe 500) offers increased by INR 100-300/t d-o-d across locations except in Mandi where prices inched down by INR 200/t.
Today, limited trade activities were seen across locations. Buyers adopted a need-based approach after procuring healthy quantities in yesterday’s trading session. As per current scenario, prices likely to move within a narrow band.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 13,350/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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