India’s induction furnace (IF) steel market noticed an upward trend in prices. Offers rose in the range of INR 200-1,100/tonne (t) d-o-d on 29 November 2022.
Sponge iron prices increased in the range of INR 300-800/t across regions. The maximum hike of INR 800/t was seen in the Jharsuguda market.
Billets prices also rose by INR 600-1,100/t and the maximum rise of INR 1,100/t was seen in the Mandi, Gobindgarh billet market.
Moreover, rebar (Fe 500) offers rose by INR 200-700/t with a major price rise of INR 700/t seen in the Rourkela market.
The finished longs (rebars) steel market saw active demand, especially in the central region. This led to rise in offers across products followed by a price rise in the northern region today, SteelMint noted.
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SteelMint’s price assement (Region wise)
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