India’s induction furnace (IF) steel market witnessed downward price trends, while offers floated by the mills decreased by up to INR 1,300/tonne (t) d-o-d on 13 February, 2023.
Sponge iron offers dropped by INR 250-700/t. The highest decline was seen in the eastern region’s Jharsuguda market.
Meanwhile, billet prices fell in the range of INR 100-500/t across regions, with the maximum fall of INR 500 seen in Chennai and Ramgarh, Jharkhand market.
Also, rebar (Fe 500) offers edged down by INR 200-1,300/t across regions. The highest drop of INR 1,300/t was seen in the Delhi market.
Slow demand was observed for semi-finished and finished long steel and trade activities were moderate today due to highly volatile sentiments and bearish outlook.
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SteelMint’s price assessment (Region wise)
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