- Limited buying were seen in the spot market
- Sponge iron prices rise by INR 50-250/t d-o-d
India’s induction furnace (IF) steel prices fluctuated today, in a wide range of INR 50-400/tonne (t).
Sponge iron offers largely rose, by INR 50-250/t d-o-d. The highest increase of INR 250/t was seen in the Raipur and Raigarh markets.
Billet prices surged by INR 100-400/t d-o-d in many regions except in Ramgarh and Durgapur where prices inch down by INR 50/t.
Rebar (Fe 500) offers were increased by INR 100-400/t across the locations except in Rourkela market where marginal fall of INR 100/t as noticed.
Today, the spot market saw limited buying enquiries. Improvement in prices was seen in the second half, specifically in the central and northern belts. As per market participants, prices are likely to remain range-bound in the near term.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
Article From bigmint
