India’s induction furnace (IF) steel market witnessed uptrend in prices as offers across mills increased up to INR 1,200/tonne (t) d-o-d on 13 June 2022.
Sponge iron and billet prices surged in the range of INR 100-1,000/t following a rise of INR 1,000/t in Hyderabad’s billet market.
Also, rebar (Fe 500) offers increased in the range of INR 200-1,200/t across regions. Prices increased in the Delhi/NCR and Muzaffarnagar by around INR 1,200/t.
Overall, the market witnessed an uptrend in terms of prices and offers. Sellers floated offers higher on active buying and sufficient trades. Market participants are hoping that if demand remains supported, producers may keep offers higher for both semi-finished and finished steel products as conversion spread (margins) remained less with them.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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