India’s induction furnace (IF) steel market witnessed downwards price trends, while offers across mills decline up to INR 1,100/tonne d-o-d, on 18 Nov’22.
Sponge iron prices fell by INR 300-800/t. Prices witness a fall in Bellary’s sponge iron market by INR 800/t.
Billet prices plunge in the range of INR 100-1,100/t. Prices noticed a fall of INR 1,100/t seen in Mandi Gobindgarh”s billet market.
Also, rebar (Fe 500) offers edge down in the range of INR 200-700/t across regions. Prices witness a reduction in Mandi Gobindgarh’s market with INR 700/t.
Overall, market witness continuously fall in semi finish and finish long prices. Spot trades were low to moderate today as buyers remains on wait and watch mode in this falling market. Participants are in panic where they are waiting to get the prices stable or improving in coming days, SteelMint notes.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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