India’s induction furnace (IF) steel market witnessed positive trends on 2 Feb’22. Offers from the mid-sized mills were reported higher by up to INR 500/tonne (t) ($7/t) d-o-d.
Sponge iron and billet prices increased by INR 50-500/t across different locations in the country, whereas a slight drop of INR 100-250/t was seen in sponge iron prices in Bellary, south India.
Rebar (Fe 500) offers also fluctuated in the range of INR 100-500/t across regions following a major hike of INR 500/t in Ahmedabad and Hyderabad.
Prices remained supported on average trading activity along with high raw materials prices, SteelMint notes.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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