India’s induction furnace (IF) steel market saw prices edging up on 28 February 2023, as offers by the mills rose by INR 500/tonne (t) d-o-d.
Sponge iron prices increased by INR 100-350/t even as prices in Karnataka’s Bellary rose by INR 350/t d-o-d.
Steel billet prices increased in the range of INR 100-400/t across markets. Prices rose by INR 400/t in Jalna, Maharashtra.
Rebar (Fe 500) offers rose in the range of INR 100-500/t. Prices in the Bengaluru market rose by INR 500/t d-o-d.
Overall, the market continued to witness an upward trend in the semi-finished and finished long steel segments. Decent trade volumes have been recorded across regions. Market participants are expecting an improvement in long steel sales in the coming days.
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SteelMint’s price assessment (Region wise)
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