India’s induction furnace (IF) steel market witnessed mixed trends on 18 Feb’22. Offers from the mid-sized mills varied in the range of INR 50-550/tonne (t) d-o-d.
Sponge iron and billets prices dropped by INR 100-500/t at locations across country, whereas a hike of INR 50-550/t was noticed in Mandi Gobindgarh, Raigarh,Durgapur and Hyderabad markets.
The rebar (Fe 500) market remained volatile with offers fluctuating by INR 100-500/t in various regions. On the other hand, a hike of INR 500/t was reported from Durgapur (West Bengal) on account of gauge parity revision.
The market noticed a price correction in the first half of the day but gained support in the later half as demand increased from Mandi Gobindgarh.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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