Indian DRI, billet and re-bar update - 10 Jan

The domestic induction furnace (IF) steel market witnessed a surge in prices on 10 Jan'22. Steel prices of the mid-sized mills increased by up to INR 600/tonne (t) ($8/t) d-o-d.

Sponge iron and billet prices rose in the range of INR 100-500/t across locations in the country. Billet prices witnessed a sharp hike of INR 500/t in Ramgarh & Hyderabad.

Re-bar (Fe 500) offers surged by INR 100-400/t in many regions. However, a fall of INR 200/t was observed in Rourkela and Muzaffarnagar.

Prices rose on optimistic sentiments with the resumption in raw materials exports and rising coal prices globally. Hence suppliers kept prices strong in a bid to pass on rising input costs. However, trades in finished steel products remained just about moderate, SteelMint notes.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)