India’s induction furnace (IF) steel prices witnessed positive trends and offers from the medium-sized mills increased up to INR 2,700/tonne ($35), d-o-d, on 29 Apr’22.
Sponge iron and billet prices surged in the range of INR 100-1,500/t following a sharp increase of INR 1,500/t seen in Chennai’s billet market (southern India).
Also, rebar (Fe 500) offers increased in the range of INR 200-2,700/t across regions. Prices jumped INR 2,700/t in Mandi Gobingarh.
Overall, the market saw positive sentiments prevailing in terms of offers on account of power cuts in major markets in central and north India. However, demand remained on a slow track.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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