Indian DRI, billet and re-bar update - 10' Aug.

Today, the induction furnace (IF) steel market in India displayed downward pricing trends for all commodities. Mills' offers decreased from the previous market session by up to INR 400/tonne (t).

The price of sponge iron dropped by INR 100-300/t, with the Jharsugda market experiencing the biggest drop.

Prices of billets fell by about INR 100-350/t. In Durgapur, the decline was the highest.

Offers for rebar (Fe 500) also decreased by INR 100-400/t, with the Raigarh market seeing the biggest decrease.

Billets prices fell amid low demand and moderate bookings. Demand for finished long steels was low today and hence substantial booking were made in this segment. However, the northern region remained slow, further impacting the prices.

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SteelMint's price assessment (Region wise)