India’s induction furnace (IF) steel market witnessed positive price trends, while offers floated by the mills rose by around INR 700/tonne (t) d-o-d on 1 March, 2023.
Sponge iron prices edged up by INR 100-400/t. Prices increased by INR 400/t in Durgapur.
Billets prices increased in the range of INR 100-500/t. Prices rose by INR 500/t in Hyderabad today.
Rebar (Fe 500) offers rose in the range of INR 100-700/t. Prices rose by INR 700/t in Mandi, Gobindagarh.
The finished long (rebar) steel market saw active demand, specially in the central and eastern regions of the country which led to a surge in offers across product segments followed by a rise in prices in north India in morning trade today, SteelMint notes.
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SteelMint’s price assessment (Region wise)
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