India’s induction furnace (IF) steel market saw positive price trends today as offers increased in the range of INR 100-800 tonne (t) d-o-d on 21 Oct’ 22.
Sponge iron prices rose by INR 100-800/t, following a maximum hike of INR 800/t seen in Jharsuguda.
Billet prices inched up in the range of INR 200-650/t across regions. Prices rose by INR 700/t in central regions Raigarh billet market.
Rebar (Fe 500) offers inreased in the range of INR 200-500/t, with a major hike of up to INR 500/t in Mumbai.
The finished longs (rebar) steel market saw moderate demand, especially in the central and eastern regions. However, trading seems to have picked up compared to earlier this week.
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SteelMint’s price assement (Region wise)
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