India’s induction furnace (IF) steel market witnessed mixed price trends, while offers floated by the mills varied in the range of INR 100-2,000/tonne d-o-d on 25 November, 2022.
Sponge iron prices fluctuated in the range of INR 350-600/t. Prices rose in Durgapur’s sponge iron market by INR 600/t.
Billet prices varied in the range of INR 100-750/t. Prices witnessed a decline of INR 750/t in Hyderabad today.
Also, rebar (Fe 500) offers fell in the range of INR 200-2,000/t across regions. Prices fell in Rourkela by INR 2,000/t.
Today, the market saw a seesaw trend in prices for semi-finished steel, while finished longs trended downward. Spot trades improved today as demand increased in the second half in central, northern and eastern India. Market participants are expecting price recovery as well as stability to return to the market in the coming days.
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SteelMint’s price assessment (Region wise)
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