India’s induction furnace (IF) steel market witnessed mixed price trends, while offers by the mills fluctuated in the range of INR 100-1,000/tonne (t) d-o-d on 24 January, 2023.
Sponge iron offers fell sharply by INR 100-300/t. The highest decline of INR 300/t was seen in the Durgapur sponge iron market.
Billet prices dropped in the range of INR 100-500/t across regions, with the maximum fall of INR 500/t seen in Hyderabad.
Rebar (Fe 500) offers fluctuated by INR 100-1,000/t across regions. The highest drop of INR 500/t was seen in Hyderabad, while a major hike of INR 1000/t was observed in Mumbai.
The finished long steel market saw improved demand in the central region, while demand remained moderate in the remaining parts of the country. Trading momentum picked up today, which had remained dull for the last few days, sources informed SteelMint.
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SteelMint’s price assessment (Region wise)
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