India’s induction furnace (IF) steel market saw positive price trends even as offers floated by the mills increased by up to INR 700/tonne (t) d-o-d on 13 January, 2023.
Sponge iron prices edged up by INR 50-500/t. Prices rose by INR 500/t in Bellary.
Billet prices increased in the range of INR 200-700/t. A hike of INR 700/t was seen in Hyderabad’s billet market today.
Rebar (Fe 500) offers rose in the range of INR 200-650/t. The sharpest spike of INR 650/t was seen in the Raigarh market.
Domestic markets witnessed an overall uptrend today due to strong sentiments in the northern region which kept prices supported in different markets. Sellers raised offers amid active trades in the semis and finished steel segments. Increasing demand for steel is likely to keep prices supported in the coming days, sources informed SteelMint.
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SteelMint’s price assessment (Region wise)
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