India’s induction furnace (IF) steel market witnessed mixed price trends, while offers across mills varied in the range of INR 100- 1,500/tonne d-o-d on 31 May’22.
Sponge iron and billet prices dropped in the range of INR 100-1,500/t following a decrease of INR 1,500/t seen in Durgapur’s billet market.
Rebar (Fe 500) offers fluctuated in the range of INR 200-1,000/t across regions. Prices fell in the Raigarh market by INR 1,000/t.
Overall, the market witnessed a downtrend in semi-finished and finished long products prices. Sellers reduced offers due to sluggish demand and buyers remained cautious about procuring material. Market participants are hoping for stability to return to the market in the coming days.
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SteelMint’s price assessment (Region wise)
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