India’s induction furnace (IF) steel market witnessed dull sentiments prevailing today, as offers floated by the mills fluctuated in the range of INR 50-700/tonne d-o-d on 13 July, 2022.
Sponge iron and billet fluctuated within a price range of INR 50-700/t. The highest decline of INR 700/t was seen in Hyderabad’s billet market, whereas the market remained supported in the southern region.
Also, rebar (Fe 500) offers decreased in the range of INR 200-500/t across regions, with the maximum drop of INR 500/t seen in Durgapur and Hyderabad.
The market lacked support due to low volume of spot trades across locations. Finished steel trades remained dull in major markets as prices moved downwards.
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SteelMint’s price assessment (Region wise)
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