India’s induction furnace (IF) steel market continued to witness a downtrend in prices as offers floated by the mills decreased in the range of INR 100-700/tonne d-o-d on 15 November, 2022
Sponge iron prices in most regions declined by INR 100-600/t. Prices fell sharply by INR 600/t in the Jharsugda market.
Billets offers also dropped by INR 100-700/t. The highest decline of INR 700/t was seen in Chennai billet market.
Rebar (Fe 500) offers decreased by INR 100-600/t, with a major decline of INR 600/t seen in Raipur.
The market saw volatility in semi-finished and finished long steel prices, amidst moderate buying except in the central and eastern regions where demand remained active and sufficient trades were reported by suppliers, especially for sponge iron, rebar and wire rod.
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SteelMint’s price assessment (Region wise)
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