India’s induction furnace (IF) steel market observed mixed price trends today and offers across mills varied in the range of INR 50-800/tonne (t) d-o-d on 9 June, 2022.
Sponge iron and billet prices fluctuated by INR 50-400/t. A slight hike in offers by INR 300/t was noticed in Raigarh’s (central India) billet market.
Moreover, rebar (Fe 500ea) offers dropped in the range of INR 100-800/t across regions following a major drop of INR 800/t seen in Delhi/NCR market.
Over all, the market remained stagnant with moderate trading activities. Sponge iron makers are less likely to reduce prices as they are hoping that the monsoon may approach soon and productivity and buying interest may get impacted.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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