India’s induction furnace (IF) steel market witnessed positive price trends today as offers floated by the mills rose up to INR 800/tonne (t) d-o-d on 17 February, 2023.
Sponge iron prices increased in the range of INR 100-400/t across regions. The maximum hike of INR 400/t was seen in the Jharsugda market.
Billet prices increased in the range of INR 100-800 t and maximum rise of INR 800/t was seen in the Mandi, Gobindgarh market.
Rebar (Fe 500) offers inched up in the range of INR 100-700/t, with the major hike of INR 700/t seen in Durgapur.
Prices increased throughout the day even as trading activities remained firm. Buying interest, however, was low as offers were slightly on the higher side.
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SteelMint’s price assessment (Region wise)
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