India’s induction furnace (IF) steel market witnessed mixed trends on 22 Feb’22. However, buying interest is low due to higher prices and so manufacturers are being compelled to reduce offers today.
Offers from the mid-sized mills varied in the range of INR 100-1,000/tonne (t) d-o-d. Sponge iron and billet prices fluctuated in the range of INR 100-500/t at locations across the country, whereas a major hike of INR 500/t was seen in Chennai, south India.
On the other hand, rebar (Fe 500) prices remained strong, with offers increasing in the range by INR 200-1,000/t in various regions. The maximum increase of INR 1,000/t was seen in Delhi/ NCR, whereas prices declined by INR 100-400/t in Raipur and Durgapur.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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