India’s induction furnace (IF) steel market witnessed mixed trends on 21 Feb’22 and offers from the mid-sized mills varied in the range of INR 50-600/tonne (t) d-o-d.
Sponge iron and billet prices fluctuated by INR 50-500/t at locations across the country, whereas a major hike of INR 500/t was noticed in Chennai, south India.
On the other hand, rebar (Fe 500) prices remained strong with offers increasing in the range by INR 100-600/t in various regions. However, a slight drop of INR 100-200/t was seen in central India.
The market remained weak throughout the day as limited trades and enquiries were observed. Usual economic activity was disturbed in the north region due to elections in various states.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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