India’s induction furnace (IF) steel market witnessed mixed price trends on account of subdued demand during day trading on 22 July, 2022.
Sponge iron prices fluctuated by INR 100-300/t. Prices in Odisha rose by INR 100/t, while these fell by INR 100-300/t in the remaining locations.
Billet offers rose by INR 50-300/t in central and eastern regions. However, a fall of INR 250-700/t was recorded in the remaining parts of the country.
Rebar (Fe 500) offers plunged in the range of INR 100-1,000/t in central, western and southern India, although these were stable in the north and east.
Demand continued to remain limited amidst hope among participants of further softening of offers in the coming days due to seasonal slow demand in the country along with sufficient supply of almost all products in the spot market, SteelMint notes.
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SteelMint’s price assessment (Region wise)
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