India’s induction furnace (IF) steel market witnessed mixed trends even as offers floated by the mills varied in the range of INR 50-500/tonne (t) d-o-d on 6 Sep, 2022.
Sponge iron prices fluctuated in the range of INR 100-200/t, with central India’s Raigarh market witnessing a rise of INR 150/t.
Billet offers dropped by INR 50-500/t. However , a slight hike of INR 150/t was seen in Raipur market.
Also, rebar (Fe 500) offers fluctuated in the range of INR 100-400/t. Prices rose by INR 400/t in Muzaffarnagar and Mandi Gobindgarh, north India. However , a major drop of INR 400/t was seen in Mumbai.
The IF steel market witnessed a slight improvement in semi-finished steel offers and spot trades in some regions during the first half today. However , later on sentiments turned bearish. Also, enquiries for finished long products remained subdued, SteelMint notes.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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