India’s induction furnace (IF) steel market noticed upward price trends and offers rose in the range of INR 100-600/tonne (t) d-o-d on 5 January, 2023.
Sponge iron prices increased in the range of INR 150-400/t across regions. The maximum hike of INR 400/t was seen in eastern region’s Jharsuguda market.
Billets prices rose in the range of INR 100-600/t, and the maximum rise of INR 600/t was seen in Rourkela market.
Meanwhile, rebars (Fe 500) offers inched up in the range of INR 100-400/t with a major price rise of INR 400/t seen in Rourkela market.
The finished longs (rebars) steel market saw an improved demand in central and eastern region, while demand was moderate in the remaining parts of the country. In addition, trading has picked up which was dull for the last few days, sources informed SteelMint.
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SteelMint’s price assement (Region wise)
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