India’s induction furnace (IF) steel market witnessed mixed price trends. Offers across mills varied in the range of INR 50-1,000/tonne d-o-d on 8 August 2022.
Sponge iron prices fluctuated by INR 50-200/t. Prices increased in Durgapur’s sponge iron market by INR 200/t.
Billet prices varied in the range of INR 200-500/t and fell by INR 500/t in the Chennai market.
Also, rebar (Fe 500) offers plunged in the range of INR 200-1,000/t across regions. Prices edged down in the Delhi/NCR market by INR 1,000/t.
Overall, the market noticed a stagnant price trend in the semi-finished segment, while finished long steel prices continued to fall.
Demand for finished steel remained poor across all regions due to the monsoons, except in the central part of the country which saw active buying in long products after a long time, which kept billet prices supported.
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SteelMint’s price assessment (Region wise)
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