India’s induction furnace (IF) steel market witnessed positive price trends on 4 Feb’22 as offers from the mid-sized mills increased by up to INR 600/tonne (t) ($8/t) d-o-d.
Sponge iron and billet prices increased by INR 100-600/t in different markets across the country. However, a major hike of INR 600/t in billet prices was seen in Gujarat.
Rebar (Fe 500) offers rose in the range of INR 100-600/t across regions, although a sharp rise of INR 600/t was observed in Jaipur, Rajasthan.
The market remained tight throughout the day all over the country. Decent movement was observed in semis at Mandi Gobindgarh; however the rolling mills saw moderate finished long product sales.
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SteelMint’s price assessment (Region wise)
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