Iron Market Trend

• Dalian Iron Ore Futures:

Recovery was seen in China’s Dalian iron ore futures yesterday.

• Domestic Market:

Prices of ingots and old scrap in the domestic market continued to rise yesterday. The trading range for ingots today is 43,400–44,200.

Key Regions and Expected Trends in the Secondary Market:

Major centers of the steel secondary market:

• Mandi Gobindgarh, Delhi, Gujarat, Raipur, Raigarh, Durgapur, Jalna, Rourkela, Hyderabad, Jammu, Jaipur, Ghaziabad, Muzaffarnagar, Bhiwadi, Patna, Jharkhand, Bangalore, Goa, Bhopal, Indore, Nagpur — Prices of TMT are expected to increase in these regions today.

Analysis and Forecast:

According to market experts:

• Demand and prices of secondary steel are expected to increase today.

• Prices in the primary market remain strong.

• Due to a supply shortage, TMT prices are expected to rise further.