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Weekly round-up: Indian steel prices rise amid low trade

ABSTRACT

The Indian steel market observed an upward trend in terms of prices due to hike in OMC’s iron ore auction prices in the 23rd week of the year. However, trade volumes were limited throughout the week.
As per SteelMint’s assessment, domestic billet prices increased by INR 1,400-3,100/tonne across regions with the highest increase of INR 2,700-3,100/t seen in Durgapur, Rourkela and Raigarh. Similarly, sponge iron prices also moved up by INR 1,800-2,900/t. Meanwhile, induction furnace-route rebar offers moved up on account of higher raw material prices and

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