India’s induction furnace (IF) steel market noticed mixed price trends. Offers varied from INR 50-500/tonne (t) d-o-d on 21 September, 2022.
Sponge iron prices varied from INR 100-500/t. A major price drop of INR 500/t was observed in the Hyderabad market. However, a slight hike of INR 150/t was seen in central India’s Raigarh market.
Billet prices fluctuated from INR 50-400/t across regions with the maximum fall of INR 400/t seen in western region’s Mumbai and Jalna billet markets.
Also, rebar (Fe 500) offers fell by INR 100-500/t across regions. The highest drop of INR 500/t was noticed in the southern region’s Hyderabad market.
Trades were limited today with declining prices in the northern region. This in turn limited spot trades and softened offers in major locations. Outlook remains unclear among participants, hence, they are waiting to take positions for future bookings, SteelMint noted.
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SteelMint’s price assement (Region wise)
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