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

India's induction furnace (IF) steel market witnessed mixed trends on 10 Mar'22. Offers from the mid-sized mills fluctuated in the range of INR 250-1,700/tonne (t) d-o-d.

Sponge iron and billet prices declined by INR 250-1,000/t, with a major fall seen in Gujarat and Hyderabad's billet market. However, Bellary's (south India) sponge iron market remained cautious and prices picked up by INR 200/t today.

On the other hand, rebar (Fe 500) offers varied in the range of INR 100-1,700/t across regions in the country. A sharp rise of INR 1,700/t was noticed in Jaipur, Rajasthan.

Trades were affected in the northern states, with some markets remaining inactive throughout the day. Participants are not hoping for any major correction due to firm raw materials prices.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)