India’s induction furnace (IF) steel market witnessed mixed price trends. Offers across mills varied in the range of INR 50- 800/tonne d-o-d, on 25 July 2022.
Sponge iron prices varied in the range of INR 50-500/t with INR 500/t rise seen in Mandi Gobindgarh and INR 50/t fall seen in Bellary market.
Billet prices fluctuated between INR 100-800/t. A rise of INR 800/t was seen in Mandi Gobindagarh’s market. However, Chennai market saw a fall of INR 500/t.
Also, rebar (Fe 500) offers plunged by INR 100-800/t across regions. Prices witnessed a fall of INR 800/t in Durgapur market.
Semi-finished steel prices in most regions saw a rise while finished long prices fluctuated. The raw material shortage specially in northern region kept semis prices supported and with improvement in billet prices, a slight recovery in finished steel sales was seen in central and western regions.
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SteelMint’s price assessment (Region wise)
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