UTC+8 ( BJT)

Weekly: Indian steel market snapshot

ABSTRACT

The Indian steel market has observed increase in prices during week 19. Spot steel demand in the domestic segment remained moderate due to lockdown restrictions. Supply diversion of oxygen for medical use continued to lower steel production at mills, largely those of secondary players.
As per SteelMint’s assessment, domestic sponge iron market has noticed a hike in prices by INR 100-700/t. Similarly billet prices have sharply increased by INR 400-1,900/t across locations with a major increase of INR 1,000-1,900/t seen in Northern & Western India. Also, rebar prices have increased up to INR 1,500/t in

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