India’s induction furnace (IF) steel market noticed mixed trends and offers varied in the range of INR 100-700/tonne (t) d-o-d on 27 September, 2022.
Sponge iron prices varied at INR 100-400/t. A major price drop of INR 100/t was observed in Jharsugda and southern India’s Hyderabad and Bellary markets. However, a hike of INR 400/t was seen in the eastern region’s Durgapur market.
Moreover, billet offers rose by INR 150-700/t. However, a major hike of INR 700/t was seen in Mumbai market.
Also, rebar (Fe 500) offers varied at INR 100-700/t across regions. The highest price hike of INR 700/t was noticed in the Mumabi and Delhi markets. Although prices slightly dropped by INR 200/t in Chennai market.
The finished longs (rebar) steel market saw moderate demand across the regions and with rising prices in the northern region, steel prices strengthened in the major markets, sources informed SteelMint.
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SteelMint’s price assement(Region wise)
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