India’s induction furnace (IF) steel market witnessed mixed price trends, while offers across mills varied in the range of INR 50-1,300/tonne d-o-d, on 7 July 2022.
Sponge iron and billet prices increased by INR 50-1,300/t. A sharp hike of INR 1,300/t was seen in Raigarh and Ramgarh’s sponge iron markets.
Also, rebar (Fe 500) offers rose by INR 200-1,000/t across regions. A major hike of INR 1,000/t was seen in Durgapur. But prices fell slightly by INR 100/t in Chennai.
Overall, the market saw positive sentiments with hike in offers. Demand for semis and wire rods improved in central India while in West Bengal, prices rose owing to an increase in power tariffs. Semis demand in Odisha remained active, also active finished steel trade was seen in western markets.
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SteelMint’s price assessment (Region wise)
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