India’s induction furnace (IF) steel market witnessed mixed price trends today. Offers across mills varied in the range of INR 50-700/tonne (t) d-o-d on 12 Sep, 2022.
Sponge iron prices dropped by INR 50-700/t across regions, with a maximum fall of INR 700/t seen in the eastern region’s Jharsugda sponge iron market.
Billet prices fluctuated in the range of INR 100-700/t. However, a major hike of INR 700/t was noticed in the southern region’s Chennai billet market.
Rebar (Fe 500) offers varied in the range of INR 100-400/t across regions with a major price decline of INR 400/t seen in Rourkela and Jaipur markets. However, a slight uptick of INR 300/t was seen in Chennai market.
The semi-finished and finished long steel price saw an up and down trend across all markets. However, trades remained moderate due to unpredictable market sentiments, except in central and eastern region.
The producers in Raipur and Odisha have reported sufficient deals in semis products, especially for western India as the Maharashtra market reopened after a festive break during the last weekend.
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SteelMint’s price assessment (Region wise)
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