India’s induction furnace (IF) steel market saw prices trending upward, rising in the range of INR 100-500/tonne (t) d-o-d on 6 October, 2022.
Sponge iron prices rose in the range of INR 150-350/t. A major increase of INR 350/t was seen in the Bellary market.
Moreover, billet offers surged by INR 200-500/t. A major price hike of INR 500/t was seen in Hyderabad.
Rebar (Fe 500) offers increased by INR 100-500/t across regions. Prices rose INR 500/t in Hyderabad and Muzaffarnagar. However, a major drop of INR 400/t was seen in the Jalna market.
The finished long steel market saw moderate demand especially in central and eastern India. However, compared to earlier this week, trading has picked up, which had remained dull over the last few days, sources informed SteelMint.
Click here for re-bar brand wise details
SteelMint’s price assement(Region wise)
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