India’s induction furnace (IF) steel market witnessed a downward trend in prices. Offers varied in the range of INR 50-600/tonne (t) d-o-d on 2 December, 2022.
Sponge iron prices declined in the range of INR 100-550/t across regions. The maximum fall of INR 550/t was seen in the Durgapur market.
Billets prices also fell down by INR 50-600/t and the major price drop of INR 600/t was seen in the Mandi, Gobindgarh billet market.
Rebar (Fe 500) offers dropped by INR 100-500/t, with the major drop of INR 500/t seen in the Jaipur and Rourkela markets.
Overall, the market saw negative price trends today and low trade volumes drove the price correction at major locations.
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SteelMint’s price assessment (Region wise)
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