India’s induction furnace (IF) steel market witnessed declining trends on 6 Apr’22, as offers from the medium-sized mills decreased by up to INR 2,100/tonne (t) ($28) d-o-d.
Sponge iron and billet prices edge down in the range of INR 250-1,400/t following a decline of INR 1,400/t witnessed in Rourkela’s billet market in Central India.
Also, rebar (Fe 500) offers fell in the range of INR 100-2,100/t across regions. Prices witnessed a sudden decline in Muzzafarnagar dropping by INR 2,100/t.
Spot trades remained limited and prices trended down in all the product segments. Sellers are hoping for a price recovery in the coming days as coal prices increased today. However, buying interest remained dull much like yesterday.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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