India’s induction furnace (IF) steel market witnessed mixed price trends today. Offers floated by the mills varied in the range of INR 50-300/tonne d-o-d on 15 September, 2022.
Sponge iron prices varied in the range of INR 50-200/t. Prices fell by INR 200/t in the Raigarh market. However, a slight hike of INR 100/t was seen in the Durgapur market.
Billet prices fluctuated in the range of INR 50-250/t across regions with the maximum price drop of INR 200/t seen in Ramgarh’s billet market.
Rebar (Fe 500) offers increased by INR 100-300/t across regions. Prices rose by INR 300/t in Mumbai and Bangalore. However, a marginal price drop of INR 200/t was seen in the Raigarh market.
The market observed a slight improvement in semi-finished steel offers, especially in the central, east & western regions. A majority of participants stayed away from taking positions and are waiting for prices to stabilise, SteelMint noted.
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SteelMint’s price assessment (Region wise)
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