India’s induction furnace (IF) steel market witnessed positive price trends. Meanwhile, offers across mills increased by INR 600/tonne d-o-d on 22 March, 2023.
Sponge iron prices edged up by INR 50-400/t. Prices increased by INR 400/t in the Jharsugda market.
Billets prices increased in the range of INR 100-500/t. Prices rose by INR 500/t in Hyderabad market today.
In addition, rebars (Fe 500) offers rose in the range of INR 100-600/t. Prices remained elevated in Raigarh by INR 600/t.
Overall, the market observed subdued buying interest in majority of the locations because of the surge in offers. Participants assumed that if demand remained same, prices are likely to remain volatile considering sufficient inventories with suppliers.
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SteelMint’s price assessment (Region wise)
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