Indian DRI, billet and re-bar update - 1 Jul

India's induction furnace (IF) steel market witnessed upward price trends, while offers from mills increased by up to INR 1,000/tonne d-o-d, on 1 July'22.

Sponge iron and billet prices rose in the range of INR 100-1,000/t. Prices surged by INR 1,000/t seen in Chennai's billet market.

Also, rebar (Fe 500) offers rose in the range of INR 200-1,000/t across regions. Prices spurt in the Hyderabad market by INR 1,000/t.

Today, price trends for semi-finished and finish long steel products remained positive. Rising prices in the northern region (Punjab) influenced suppliers to keep offers higher despite moderate demand in the majority of markets.

Meanwhile, higher coal prices, too, supported semis' offers.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)