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India: Semis prices edge down amid dull trading in West Bengal

Induction furnace (IF)-route semi-finished steel prices in Durgapur, West Bengal, dropped today. Offers floated by the mills fell by up to INR 500/t. Sponge iron prices d...

Semi Finished
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9 Sep 2022, 18:42 IST
India: Semis prices edge down amid dull trading in West Bengal

Induction furnace (IF)-route semi-finished steel prices in Durgapur, West Bengal, dropped today. Offers floated by the mills fell by up to INR 500/t.

Sponge iron prices dropped by INR 450/t. Around 2,700 t of trades happened at INR 31,800-31,900/t DAP Durgapur.

Billet prices fell by INR 200/t. Sellers reduced offers due to lower bids from the buyers. Around 1,970 t of trade was recorded at INR 47,400-47,600/t DAP Durgapur.

The finished long steel segment saw prices decreasing by INR 500/t today. Sellers floated offers for rebar (Fe 500) at INR 50,200-50,500/t and wire rod (5.5mm) at INR 50,700-51,000/t exw Durgapur. Around 500 t of wire rod was traded at INR 50,800/t exw Durgapur.

The market fell because of sluggish trends seen in both the semi finished and finished longs segments. Trades were dull throughout the day which put pressure on the sellers to reduce prices, SteelMint notes.

 

9 Sep 2022, 18:42 IST

 

 

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