India’s induction furnace (IF) steel market witnessed mixed price trends, while offers from the medium-sized mills varied in the range of INR 50-1,300/tonne d-o-d on 2 May’22.
Sponge iron and billet prices fluctuated in the range of INR 50-1,300/t following a sharp rise of INR 1,300/t seen in Mandi Gobindgarh’s billet market.
Also, rebar (Fe 500) offers vaired in the range of INR 200-500/t across regions. Prices edged down in Chennai and Hyderabad by INR 500/t.
Overall, declining coal prices and sluggish trends impacted trading activity. Sellers raised offers initially, but average buying was witnessed throughout the day in a few major locations. Market participants are expecting trades to remain subdued in the coming days.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
Leave a Reply