India’s induction furnace (IF) steel market witnessed mixed price trends, while offers floated by the mills fluctuated in the wide range of INR 50-500/tonne d-o-d on 3 October 2022.
Sponge iron prices vacillated in the region of INR 50-150/t. Prices dropped in Ramgarh’s sponge iron market by INR 150/t.
Billet prices varied in the range of INR 100-500/t even as prices saw decline of INR 500/t in Mandi Gobindgarh’s billet market.
Rebar (Fe 500) offers varied in the range of INR 100-500/t across regions. Prices edged up in Hyderabad by INR 500/t.
Spot prices for semi-finished steel fell in the northern and central regions, whereas the eastern region remained on shutdown mode due to the Durga Puja festival.
Finished steel prices saw some improvement in the southern region, while prices remained between stable and negative in other regions of the country, with limited trade volumes recorded.
Demand is expected to remain subdued during the festive period, it is believed.
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SteelMint’s price assessment (Region wise)
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