India’s induction furnace (IF) steel market received moderate response across India on the offers that prevailed today. The prices saw a decrease of INR 100-800/tonne (t) d-o-d on 25 Aug, 2022.
Sponge iron offers dropped INR 100-500/t across markets today, as per SteelMint assessment. The sharpest decline of INR 500/t was seen in the Raigarh market in central India.
Billet prices dropped in the range of INR 250-450/t across regions with the maximum drop of INR 400/t seen in Rourkela.
Rebar (Fe 500) offers fell by INR 200-800/t across regions, with the maximum drop of INR 800/t seen in Mandi Gobindgarh.
The market saw moderate trades throughout the day as demand remained limited during the first half on falling prices in the northern region, while later on prices recovered due to improvement in spot trades, especially for semis.
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SteelMint’s price assessment (Region wise)
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