India’s induction furnace (IF) steel market saw moderate response at prevailing offers. Prices decreased by INR 700/tonne, d-o-d on 4 November, 2022.
Sponge iron offers dropped by INR 200-400/t. The highest decline was seen in the central region’s Raipur market.
Meanwhile, billets prices fell in the range of INR 100-500/t across regions with the maximum fall seen in Raigarh market.
Also, rebars (Fe 500) offers edged down by INR 100-700/t across regions. The highest drop of INR 700/t was seen in Jaipur and Mandi Gobindgarh market.
The market saw volatility in semi-finished and finished long steel prices amidst moderate buying except in central and eastern regions. Demand in these regions remained active and sufficient deals were concluded by suppliers.
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SteelMint’s price assessment (Region wise)
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