India’s induction furnace (IF) steel market witnessed positive price trends, while offers floated by the mills increased by up to INR 1,050/tonne (t) d-o-d on 11 July, 2022.
Sponge iron and billet prices rose in the range of INR 250-1,050/t. Prices surged INR 1,050/t in Rourkela’s sponge iron market.
Also, rebar (Fe 500) offers increased in the range of INR 200-600/t across regions. Prices in Mandi Gobindgarh, Punjab, rose by INR 600/t.
Active buying interest was observed throughout the day as sentiments turned bullish with a rebound in raw material prices i.e. pellets and coal. Moreover, active buying is supporting suppliers to keep prices strong and trades are taking place with daily price revisions, SteelMint Notes.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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