India’s induction furnace (IF) steel market witnessed positive trends, while offers floated by the mills increased up to INR 900/tonne (t) d-o-d on 22 June, 2022.
Sponge iron and billet prices rose in the range of INR 150-900/t. Prices increased by INR 700/t in Durgapur’s sponge iron market.
Rebar (Fe 500) offers surged in the range of INR 200-800/t across regions. Prices inched up in the Raigarh market by INR 800/t.
The market witnessed an upward momentum in terms of offers for both semis and finished steel products. Active buying interest was noticed throughout the day, which kept market sentiments supported.
In addition, a rebound in non-coking coal prices (specially South African Coal Index) has influenced suppliers to keep prices strong, which has strengthened steel prices.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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