India’s induction furnace (IF) steel market witnessed mixed price trends, while offers floated by the mills varied in the range of INR 100-1,000/tonne, d-o-d, on 20 July, 2022.
Sponge iron and billet prices fluctuated in the range of INR 100-500/t. Prices fell by INR 500/t seen in Chennai’s billet market.
Also, rebar (Fe 500) offers dropped in the range of INR 100-1,000/t across regions. Prices fell in the Delhi/NCR market by INR 1,000/t.
Overall, the market saw a decline in finished long products prices due to lacklustre demand, while semi-finished steel prices fluctuated across regions.
Market participants are expecting prices to remain under pressure as demand for steel continued to remain dull along with a slight increase in selling pressure on suppliers owing to poor seasonal steel offtake, SteelMint notes.
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SteelMint’s price assessment (Region wise)
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