India’s induction furnace (IF) steel market saw mixed price trends and offers varied in the range of INR 50-500/tonne (t) d-o-d on 1 Nov’22.
Sponge iron prices fluctuated in the range of INR 50-150/t across regions. However, a slight hike of INR 150/t was seen in Durgapur in eastern India.
Billet prices fluctuated in the range of INR 100-300/t with a maximum drop of INR 300/t seen in the Raigarh market.
Also, rebar (Fe 500) offers varied in the range of INR 100-500/t with a major decline of INR 500/t seen in Hyderabad, Jalna and Mumbai.
Slow demand was observed in the semi-finished and finished long steel segments today. Trading activities were moderate due to highly volatile sentiments and bearish outlook.
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SteelMint’s price assessment (Region wise)
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