India’s induction furnace (IF) steel market saw price corrections, while offers from the medium-sized mills fell by up to INR 500/tonne (t) d-o-d on 20 December, 2022.
Sponge iron offers dropped by INR 100-450/t. The highest decline of INR 450/t was seen in the Bellary sponge market.
Billets prices dropped in the range of INR 100-500/t across regions with the maximum fall of INR 500/t seen in Hyderabad’s billets market.
Also, rebars (Fe 500) offers edged down in the range of INR 100-500/t across regions. Prices saw a major drop of INR 500/t in Hyderabad market.
Overall, market noticed a downfall in terms of offers and prices. Semi-finished prices kept decreasing today as low demand was observed. Finished long also fell accross the region.
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SteelMint’s price assessment(Region wise)
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