India’s induction furnace (IF) steel market witnessed mixed price trends, while offers floated by the mills fluctuated in the range of INR 100-550/tonne (t) d-o-d on 13 March, 2023.
Sponge iron prices edged down by INR 100-450/t. Prices dropped in Durgapur’s sponge iron market by INR 400/t.
Billet prices varied in the range of INR 50-550/t. Prices increased by INR 550/t in Durgapur. However, a price decrease of INR 200/t was seen in the Mumbai market today.
In addition, rebar (Fe 500) offers fluctuated in the range of INR 100-200/t. Prices edged up by INR 200/t in Durgapur and Raigarh.
Overall, the market observed subdued buying interest in majority of the locations with reduced offers. Participants are assuming that if demand remains same, the prices are likely to remain volatile considering sufficient inventories with the suppliers.
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SteelMint’s price assessment (Region wise)
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