India’s induction furnace (IF) steel market witnessed positive price trends. Offers from the medium-sized mills increased up to INR 1,600/tonne ($21), d-o-d, on 28 Apr’22.
Sponge iron and billets prices surged in the range of INR 150-1,600/t following a sharp increase of INR 1,600/t seen in Mandi Gobindgarh’s billet market.
Also, rebar (Fe 500) offers increased in the range of INR 200-1,500/t across regions. Prices jumped by INR 1,500/t in Mandi Gobingarh, Muzaffarnagar, Durgapur and Raigarh markets.
Overall, the market saw active buying today amid strengthening coal prices. Sellers are hoping this positive trend to continue.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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