India’s induction furnace (IF) steel market saw mixed price trends as offers varied in the wide range of INR 50-500/tonne (t) d-o-d on 8 November, 2022.
Sponge iron prices fluctuated in the range of INR 50-250/t. The major decline of INR 250/t was observed in the Bellary market in Karnataka.
Billets offers varied in the range of INR 50-500/t. A sharp drop of INR 500/t was witnessed in the Chennai market. However, prices rose by INR 400/t in Mandi Gobindgarh, Punjab.
Rebar (Fe 500) prices fluctuated in the range of INR 100-500/t across regions. Prices fell by INR 500/t in Hyderabad and Chennai markets southern India.
Active demand for finished steel products was witnessed in central and eastern India but at lower offers. However, at other locations demand remained moderate. As a result, prices remained on the lower side, especially rebar prices in the southern and northern parts of the country.
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SteelMint’s price assessment (Region wise)
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