India’s induction furnace (IF) steel market witnessed mixed price trends, while offers from the medium-sized mills varied in the range of INR 50-1,200/tonne d-o-d, on 5 May’22.
Sponge iron and billet prices fluctuated in the range of INR 50-1,050/t following a sharp rise of INR 1,050/t seen in Mandi Gobindgarh’s billet market.
Also, rebar (Fe 500) offers decrease in the range of INR 300-1,200/t across regions. Prices edge down in Muzaffarnagar’s market with INR 1,200/t.
Prices of semi finished steel fell during the first half today, however, later offers increased slightly especially in central & eastern regions and with rising billet offers, enquiries too improved in finished long steels.
Overall, market remains steady in terms of offers and trades. Seller’s are hoping to see active participations in upcoming days due to favorable season for construction activities and higher offers of coal likely to influence manufacturers to keep prices strong.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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