India’s induction furnace (IF) steel market witnessed uptrend in prices on 16 Mar’22, as offers from the mid-sized mills increased by up to INR 2,700/tonne (t) ($35) d-o-d.
Sponge iron and billet prices rose in the range of INR 300-2,700/t, with a major hike seen in Gujarat’s billet market.
Rebar (Fe 500) offers rose in the range of INR 100-2,000/t across regions. However, a sharp price rise was seen in Raigarh and Durgapur.
The market remained supported and average trade activities were noticed in the semi-finished and finshed steel segments in the first half. However, in the second half, buying slowed down on soft demand.
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SteelMint’s price assessment (Region wise)
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