India’s induction furnace (IF) steel market witnessed mixed price trends. Offers across mills varied in the range of INR 100-1,500/tonne d-o-d, on 21 June 2022.
Sponge iron and billet prices fluctuated in the range of INR 100-550/t. A slight increase in prices was seen especially in northern and eastern regions. The highest fall of INR 550/t was seen in Ramgarh’s billet market.
Also, rebar (Fe 500) offers plummeted by up to INR 1,500/t across regions. The highest fall was noticed Muzaffarnagar’s market.
Semi finished steel prices remained volatile while finished steel prices were on a downtrend due to slow off-take. Sources expect that steel demand would fluctuate with the onset of the monsoon season as participants would prefer to keep their inventories limited.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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