India’s induction furnace (IF) steel market witnessed mixed price trends, while offers from the medium-sized mills varied in the range of INR 50-1,000/tonne d-o-d, on 6 May 2022.
Sponge iron and billet prices fluctuated in the range of INR 50-1,000/t following a sharp rise of INR 1000/t seen in Hyderabad’s billet market.
Also, rebar (Fe 500) offers varied in the range of INR 300-1,000/t across regions. Prices increased in Muzaffarnagar’s market with INR 1,000/t.
Overall demand was firm throughout the day, while rebound in coal prices have turned trends positive, leading to active trade activities and continuous price fluctuations in major markets. Sellers are floating offers in a range where they are hoping for trades to be improved, SteelMint notes.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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