India’s induction furnace (IF) steel market noticed an upward price trend today. Offers rose in the range of INR 100-1,000/tonne (t) d-o-d on 7 December, 2022.
Sponge iron prices increased in the range of INR 200-450/t across regions. The maximum rise of INR 450/t was seen in Jharkhand’s Ramgarh sponge iron market.
Billets prices also rose by INR 200-1,000/t and the major price rise of INR 1,000/t was seen in the Hyderabad billets market.
Moreover, rebars (Fe 500) offers rose by INR 100-600/t with a major price rise of INR 600/t seen in the Jaipur market.
Meanwhile, the finished longs steel market saw an improved demand in central and eastern regions, while demand was moderate in the remaining parts of the country. In addition, trading has picked up which was dull for last few days, sources informed SteelMint.
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SteelMint’s price assessment (Region wise)
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