India’s induction furnace (IF) steel market witnessed a declining trend on 5 Apr’22, as offers from the medium-sized mills decreased by up to INR 1,200/tonne (t) ($16) d-o-d.
Sponge iron and billet prices edged down in the range of INR 200-1050/t following a decline of INR 1050/t in Raigarh’s billet market.
Also, rebar (Fe 500) offers fell in the range of INR 200-1,200/t across regions. Prices witnessed a sudden decline in Delhi/NCR by around INR 1,200/t.
The overall market saw a downtrend with declining coal prices. Market participants believe that prices may soften further as finished steel offtake continues to remain poor leading to rising inventories.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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