India’s induction furnace (IF) steel market witnessed dull trend due to slow demand on 23 Mar’22 as offers from the mid-sized mills fell by up to INR 1,500/tonne (t) ($19) d-o-d.
Sponge iron and billet prices dropped in the range of INR 300-1,500/t, however a major fall noticed in Rourkela’s billet market.
Also, rebar (Fe 500) offers moved down in the range of INR 100-500/t across regions. whereas, a hike of INR 800/t was recorded in Bangalore (southern India).
The market remained silent due to unpredicted trends throughout the day. Participants reported that market saw price correction on account of firmness in coal prices.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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