- Sponge iron, billet prices rise on healthy trades
- Rebar prices decrease d-o-d in most locations
India’s induction furnace (IF) steel market witnessed intense volatility, with mills’ offers falling by INR 100-300/tonne (t) d-o-d in certain regions, but increasing by INR 100-550/t in others.
Sponge iron prices increased by INR 100-550/t d-o-d, with a sharp hike of INR 500/t in Raipur. However, prices decreased by INR 100/t d-o-d in Chennai.
Billet tags increased by INR 100-450/t d-o-d, with the highest rise of INR 450/t seen in Rourkela. In contrast, prices decreased by INR 200/t in Chennai.
Rebar (Fe 500) prices decreased by INR 100-300/t d-o-d. Prices dropped the sharpest in Durgapur, by INR 300/t, but climbed up by INR 200/t in Jalna and Rourkela.
Trading activity remained healthy in both sponge and billet segments, indicating sustained market participation. Buyers were selective due to slightly elevated offers, while sellers’ expectations of price stability lent support to the overall tone. Regional trends reflected a mix of minor gains and corrections, pointing to a balanced market environment.
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BigMint’s price assessment (region-wise)
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