India’s induction furnace (IF) steel market witnessed further volatility in prices as offers from the mid-sized mills fluctuated in the range of INR 50-700/tonne (t) d-o-d on 15 Feb’22.
Sponge iron and billet prices varied in the range of INR 50-500/t in major markets, with a significant fall of INR 500/t in Durgapur and an increase of INR 200/t in Gujarat.
Rebar (Fe 500) offers remained volatile in the range of INR 100-700/t in different regions of the country.
Demand as well as offers remained slightly low during the first half today, although a marginal recovery in demand and offers were seen in the second half.
A majority of market participants remain cautious about taking positions, although prices should remain volatile or might inch up in view of firm raw material prices as well as subdued demand in the spot market.
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SteelMint’s price assessment (Region wise)
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