India’s induction furnace (IF) steel market witnessed positive price trends, while offers floated by the mills increased by up to INR 350/tonne (t) d-o-d on 27 January, 2023.
Sponge iron prices rose by INR 50-300/t. Prices witnessed a hike in Jharsugda’s sponge iron market by INR 300/t.
Billet prices increased marginally in the range of INR 100-200/t. Prices rose by INR 200/t in Mandi Gobindgarh and Rourkela today.
Also, rebar (Fe 500) offers varied in the range of INR 100-350/t. Prices increased in Raigarh by INR 350/t.
The market today witnessed a marginal rise in semi-finished and finished long steel prices. Spot trades were limited as buyers remained cautious about bulk procurement, while sellers were to keep offers on the higher side. Market participants expect prices to keep fluctuating as raw material prices are firm, sources informed SteelMint.
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SteelMint’s price assessment (Region wise)
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