India’s induction furnace (IF) steel market witnessed dull sentiments due to weak demand on 22 April 2022. Offers from medium-sized mills decreased by up to INR 1,500/tonne (t) ($19) d-o-d.
Sponge iron and billet prices dropped in the range of INR 200-1,500/t with a major fall seen in Mandi Gobindgarh’s billet market in northern India.
Rebar (Fe 500) offers fell by INR 300-1,300/t across regions. Prices declined sharply by INR 1,300/t in Durgapur (West Bengal) and Raigarh (Chhattisgarh).
Meanwhile, spot trades in all segments remained moderate on account of slow demand. However, sellers are hoping for a price recovery in the upcoming week as raw material prices are still stabilized.
Click here for re-bar brand wise details
SteelMint’s price assessment (Region wise)
Leave a Reply