India’s induction furnace (IF) steel market recorded new highs on 25 Feb’22 and offers from the mid-sized mills increased by up to INR 1,100/tonne (t) ($14) d-o-d.
Sponge iron and billet prices increased in the range of INR 100-1,100/t, with a major hike of INR 1,100/t observed in Bellary’s sponge iron market.
Rebar (Fe 500) offers rose by INR 200-1,000/t across all regions, following a sharp rise of INR 1,000/t in Rourkela, Raigarh and Hyderabad.
Demand was doused today by the significant surge in prices and a majority of semi,s buyers held back bids amidst unclear market trends, SteelMint notes.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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