India’s induction furnace (IF) steel market witnessed mixed price trends, while offers across mills varied in the range of INR 50- 2,000/tonne d-o-d on 27 May’22.
Sponge iron and billet prices fluctuated in the range of INR 50-2,000/t following a decrease of INR 2,000/t seen in Chennai’s billet market.
Also, rebar (Fe 500) offers dropped in the range of INR 500-1,300/t across regions. Prices fell in the Raipur market by INR 1,300/t.
While many markets saw fluctuations in semi-finished steel prices, offers remained positive in some regions. Finished long steel saw a downtrend in prices amid sluggish demand. Trades rose slightly but were lower than the producers were expecting as buyers remained cautious about procurement.
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SteelMint’s price assessment (Region wise)
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