India’s induction furnace (IF) steel market witnessed positive price trends, while offers floated by the mills increased up to INR 1,500/tonne d-o-d on 27 June, 2022.
Sponge iron and billet prices surged in the range of INR 250-1,500/t. A major hike of INR 1,500/t was observed in Raigarh’s billet market (central India).
Rebar (Fe 500) offers rose in the range of INR 300-1,300/t across regions and prices surged INR 1,300/t in Rourkela, Odisha.
Due to the shortage of scrap and semi-finished steel, the market saw a sudden hike in prices across regions. Also, most mills don’t have immidiate delivery available at plants, sources informed SteelMint. Thus, given low supply amidst active demand, offers surged significantly today.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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