India’s induction furnace (IF) steel market witnessed positive price trends today. Offers floated by the mills increased by INR 100-500/tonne d-o-d on 14 September, 2022.
Sponge iron prices rose in the range of INR 100-300/t. Prices increased in Jharsugda’s sponge iron market by INR 300/t.
On the other hand, billet prices upped by INR 200-400/t today and by INR 400/t in the Mumbai market.
Also, rebar (Fe 500) offers inched up in the range of INR 100-500/t across regions. Major prices were up by INR 500/t in the Durgapur, Rourkela and Hyderabad markets. A price drop of INR 100/t was noticed in the Chennai market.
Billet and sponge iron prices in most regions saw a rise while finished long prices also increased. A slight recovery in finished steel sales was seen in central and eastern regions.
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SteelMint’s price assessment(Region wise)
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