India’s induction furnace (IF) steel market witnessed mixed price trends today and offers across mills varied in the range of INR 50- 600/tonne (t) d-o-d on 7 June, 2022.
Sponge iron and billet prices fluctuated in the range of INR 50-500/t. A sharp rise of INR 500/t was seen in Hyderabad’s billet market.
However, rebar (Fe 500) offers fell by INR 100-600/t across regions following a major drop of INR 600/t noticed in Rourkela, Odisha.
Overall, the market remained silent today. According to participants, the market is unlikely to rise further as buyers are booking material as per immediate requirements due to the approaching monsoons and softening raw material prices.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
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