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IF steel prices showed mixed trends, semis and finished longs fluctuated amid weak demand.
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Spot trades remained moderate, with limited buying activity and largely stable regional prices.
India’s induction furnace (IF) steel market remained mixed across commodities on 22 January. Offers from mills varied by up to INR 300/tonne (t) compared to the previous trading session.
Sponge iron offers fell by INR 50-150/t d-o-d, with the marginal drop of INR 150/t to INR 24,350/t in Hyderabad.
Billet prices fluctuated by INR 100-300/t d-o-d across locations, with the steepest fall of INR 300/t to INR 43,500/t in Mumbai, Meanwhile, the price increased by INR 250/t in Mandi Gobindgarh to INR 44250/t.
Rebar (Fe 500) prices decreased by INR 100-300/t d-o-d. Prices decreased the highest Raigarh, by INR 300/t to INR 43,500/t .
Overall, the market observed a seesaw price trend in both the semis and finished longs segments. Spot trades were moderate as major buying was not seen throughout the day. Transactions in most regions remained stable, with minimal changes seen in prices.
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BigMint’s price assessment (region-wise)
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