India’s induction furnace (IF) steel prices witnessed mixed trends today, with offers from the mills varying in the range of INR 50-500/tonne d-o-d on 7 September, 2022.
Sponge iron prices dropped by INR 50-300/t, following a decrease of INR 300/t seen in the Jharsuguda market in eastern India.
Meanwhile, billet prices fluctuated in the range of INR 100-500/t with the maximum rise of INR 500/t seen in Mandi Gobindgarh.
Also, rebar (Fe 500) offers edged down in the range of INR 100-300/t across regions. However, a slight uptick of INR 100/t was seen in the Raipur market.
The market saw variations in semi-finished steel offers, while finished long steel product prices decreased in different regions. Finished steel demand remained less-than-average, except in central India, where a significant volume of trades were reported today.
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SteelMint’s price assessment (Region wise)
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