India’s induction furnace (IF) steel market witnessed mixed price trends, while offers across mills varied in the range of INR 50-1,300/tonne d-o-d, on 6 Jul’22.
Sponge iron and billet prices fluctuated in the range of INR 50-1,300/t. A sharp rise of INR 800/t and 1,300/t seen in Jalna and Mumbai’s billet markets (Maharashtra).
Also, rebar (Fe 500) offers varied in the range of INR 200-600/t across regions. Prices increased by INR 600/t in Maharashtra.
Overall, the average trade activities have been noticed pan India except in central region where active demand in semis products recorded throughout the day. However, in Maharashtra prices surged on account of increase in power cost.
Moderate finished steel sales and volatile steel prices in the northern region – Punjab, remains the major key factors behind fluctuating semis offers across regions. While, higher coal prices, indicates no major price corrections despite subdued rebars demand on seasonal factors.
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SteelMint’s price assessment (Region wise)
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