India’s induction furnace (IF) steel market saw mixed price trends as offers varied in the range of INR 50-500/tonne (t) d-o-d on 20 October, 2022.
Sponge iron prices fluctuated in the range of INR 50-250/t following a maximum decline of INR 250/t in Ramgarh, Jharkhand.
Billet prices fell by INR 100-250/t across regions. Prices declined by INR 250/t in Durgapur billet market.
Also, rebar (Fe 500) offers varied in the range of INR 100-500/t, with a major drop of INR 500/t in Chennai. However, a price rise of INR 500/t was seen in Maharashtra’s Jalna market.
The major markets saw a decline in semi-finished and finished long steel prices amidst need-based buying and upcoming holidays along with volatile steel prices in the northern region. Thus, a majority of stockists have postponed buying, opting instead to wait and watch.
Click here for re-bar brand wise details
SteelMint’s price assement (Region wise)
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