India’s induction furnace (IF) steel market witnessed price corrections today across product categories. Offers across mills decreased by up to INR 500/tonne d-o-d, on 22 Aug’22.
- Sponge iron prices fell in the range of INR 50-200/t with the highest decline seen in Raipur and Jharsugda market.
- Billet prices dropped in the range of INR 100-500/t. Prices fell by INR 500/t in Mandi Gobindgarh and Jalna market.
- Also, rebar (Fe 500) offers corrected by INR 200-400/t across regions with the highest drop seen in Mandi Gobindgarh market.
Sluggish steel demand has weighed on semis and finished steel prices in today’s session. It is expected that prices will remain under pressure until steel demand improves, sources informed SteelMint.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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