India’s induction furnace (IF) steel market remained dull due to slow demand on 25 Mar’22 as offers from the mid-sized mills decreased by up to INR 1,600/tonne (t) ($21) d-o-d.
Sponge iron and billet prices declined in the range of INR 100-1,300/t. However, a sharp fall of INR 1,300/t was observed in Raipur’s billet market.
Also, rebar (Fe 500) offers edged down in the range of INR 300-1,600/t across regions. Prices fell sharply by INR 1,600/t in Durgapur, eastern India.
The market remained dull due to limited enquiries. However, prices rebounded later in the northern region due to slight improvement in spot trades, SteeelMint notes.
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SteelMint’s price assessment (Region wise)
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