India’s induction furnace (IF) steel market saw dull response at prevailing offers. Prices decreased by INR 500/tonne, d-o-d on 13 December, 2022.
Sponge iron offers dropped by INR 50-500/t. The highest decline was seen in the southern region’s Bellary market.
Meanwhile, billets prices fell in the range of INR 100-500/t across regions with the maximum fall seen in Hyderabad’s billets market.
Also, rebars (Fe 500) offers edged down by INR 100-300/t across regions. The highest drop of INR 300/t was seen in Durgapur market.
Trades were limited today with declining prices across regions. This, in turn, limited spot trades and led to softening of offers in major locations. Outlook remains unclear among participants. Hence, they are waiting for taking positions for future bookings, SteelMint noted.
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SteelMint’s price assessment(Region wise)
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