India’s induction furnace (IF) steel market witnessed positive price trends today even as offers across regions increased by up to INR 1,500/tonne d-o-d on 8 July, 2022.
Sponge iron and billet prices rose in the range of INR 250-1,300/t. Prices surged by INR 1,300/t in Rourkela’s billet market.
Also, rebar (Fe 500) offers climbed in the range of INR 200-1,500/t across regions. Prices witnessed a major hike in Durgapur, rising by INR 1,500/t d-o-d.
Active buying interest was seen throughout the day in major locations, which has led to a constant surge in prices over the last few days. In addition, coal prices remaining persistently high is also a reason why prices of metallics and semi-finished steel are rising, SteelMint notes.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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