The domestic induction furnace (IF) steel market struck a dull note on 4 Jan’22. Steel prices of the mid-sized mills decreased by up to INR 400/tonne (t) ($5/t) d-o-d.
Sponge iron and billet prices fluctuated in the range of INR 50-400/t in many regions across the country.
However, the re-bar market remained stable. Offers for rebar (Fe 500 grade) declined by INR 100-300/t in the northern and eastern regions. Prices moved up by INR 200-300/t in Mumbai and Jalna, Maharashtra.
Today the market didn’t find price support due to lack of buying interest. Following a price correction in northern India, Punjab, trades across different regions were affected, SteelMint notes.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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