India’s induction furnace (IF) steel market saw an upward price trend today. Offers rose in the range of INR 50-1,500/tonne (t) d-o-d on 26 December 2022.
Sponge iron prices increased in the range of INR 50-400/t across regions. The maximum hike of INR 400/t was seen in the Hyderabad market.
Billets prices up in the range of INR 200-1,000/t and a maximum rise of INR 1,000/t was seen in the Mumbai market.
Also, rebar (Fe 500) offers inched up in the range of INR 300-1,500/t with a major rise of INR 1,500/t seen in the Jalna market.
The finished longs (rebar) steel market in central and eastern regions saw demand recovery while demand was moderate in the remaining parts of the country. Also, trading has picked up which was dull for the last few days, sources informed SteelMint.
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SteelMint’s price assessment (Region wise)
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