India’s induction furnace (IF) steel market witnessed prices trending down, while offers floated by mills of varying capacities decreased by up to INR 800/tonne (t) d-o-d on 14 June 2022.
Sponge iron and billet prices plunged in the range of INR 100-800/t following a decline of INR 800/t seen in Mandi Gobindgarh’s billet market.
Rebar (Fe 500) offers fluctuated in the range of INR 200-500/t across regions. Prices increased in Hyderabad by INR 500/t.
Although the semis market saw a downtrend in prices, finished products offers were stable in most regions. Coal and iron ore pellet prices also declined today, which kept prices of semi-finished steel subdued.
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SteelMint’s price assessment (Region wise)
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