India’s induction furnace (IF) steel market remained supported on 3 Mar’22. Offers from the mid-sized mills increased by up to INR 2,600/tonne (t) ($34/t) d-o-d.
Sponge iron and billets prices increased in the range of INR 800-2,300/t, with a maximum hike seen in Bellary’s sponge iron market.
Rebar (Fe 500) offers also increased by INR 900-2,600/t across all regions in the country, following a sharp rise seen in Ahmedabad market.
Rise in coal prices amidst optimistic trends was one of the key factors behind strong steel prices, SteelMint notes.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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