India’s induction furnace (IF) steel market witnessed upward price trends, while offers across mills increased by up to INR 600/tonne d-o-d on 23 January, 2023.
Sponge iron prices fluctuated by INR 100-300/t. Prices decreased by INR 300/t in Jharsugda market. However a price hike of INR 100 was noticed in Raigarh & Durgapur.
Billet prices increased in the range of INR 100-600/t. Prices increased by INR 600/t in Mumbai.
Rebar (Fe 500) offers rose in the range of INR 100-400/t. Prices rose in the Mandi, Gobindagarh markets by INR 400/t.
Overall, the semi-finished steel market witnessed a slight hike in offers following the hike in finished steel offers in different regions. Only need-based buying was observed in the market and so trade volumes were moderate as buyers remained cautious about bulk bookings.
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SteelMint’s price assessment (Region wise)
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