India’s induction furnace (IF) steel market witnessed a downtrend on 25 Apr’22 as offers from the medium-sized mills decreased by up to INR 2,000/tonne ($26) (t) d-o-d.
Sponge iron and billet prices fell in the range of INR 500-2,000/t following a maximum decrease of INR 2,000/t seen in Hyderabad’s billet market.
Also, rebar (Fe 500) offers edged down in the range of INR 200-1,700/t across regions. Prices witnessed a major drop of INR 1,700/t in Jaipur.
Overall, the market remained bearish today, with limited trades triggering a decrease in prices. Market participants are hoping that trades will improve in the coming days.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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