India’s induction furnace (IF) steel market saw dull response at prevailing offers. Prices decreased by INR 400/tonne d-o-d on 19 December, 2022.
Sponge iron offers also dropped by INR 50-350/t. The highest decline was seen in the southern region’s Hyderabad market.
Meanwhile, billets prices fell in the range of INR 100-350/t across regions with the maximum fall seen in Durgapur’s billets market.
Also, rebars (Fe 500) offers edged down by INR 100-400/t across regions. The highest drop of INR 400/t was seen in Raigarh market.
Slow demand has been observed across semi-finished and finished long steel segments. Trading were moderate due to highly volatile sentiments and a bearish outlook.
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SteelMint’s price assessment(Region wise)
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