India’s induction furnace (IF) steel market saw upward price trends. Offers across mills increased by INR 500/tonne d-o-d on 29 March, 2023.
Sponge iron prices edged up by INR 100-200/t. Prices rose by INR 200/t in Durgapur market.
Billet prices increased in the range of INR 100-300/t. Prices increased by INR 300/t in Durgapur market today.
In addition, rebar (Fe 500) offers rose in the range of INR 100-300/t. Prices remained elevated in Raigarh by INR 300/t.
Overall, the semi-finished steel market witnessed a slight hike in offers following an increase in finished steel offers in different regions. Only need-based buying was observed in the market. Hence, trade volumes were moderate as buyers shut away from bulk bookings.
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SteelMint’s price assessment (Region wise)
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