India’s induction furnace (IF) steel market witnessed positive price trends, while offers by the mills increased by INR 500/tonne (t) d-o-d on 27 February, 2023.
Sponge iron prices edged up by INR 100-200/t. Prices rose by INR 200/t in Bellary and Durgapur sponge iron market.
Billets prices increased in the range of INR 50-500/t. Prices rose by INR 500/t in Mumbai today.
Rebar (Fe 500) offers rose in the range of INR 100-200/t. Prices increased in the Hyderabad, Durgapur and Raigarh market by INR 200/t.
The semi-finished steel market remained stable today. Trades were moderate throughout the day as buyers were cautious about bulk bookings. However, finished steel demand is still low.
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SteelMint’s price assessment (Region wise)
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