Indian DRI, billet and re-bar update - 11 Apr

India's induction furnace (IF) steel market witnesses downwards price trends, while offers across mills decrease by up to INR 50-400/tonne d-o-d, on 11th Apr'23.

Sponge iron prices fell by INR 50-350/t. Prices witness a fall in Rmagarh's sponge iron market by INR 350/t.

Billet prices dropped in the range of INR 100-400/t. Prices fell by INR 400/t seen in Rourkela's billet market today.

Also, rebar (Fe 500) offers decreases in the range of INR 100-400/t. Prices edge down in Mumbai's market with INR 400/t.

Semifinished and finish long prices continously seen negative sentiments today as northern market was remained again on the lower side. Spot trades were moderate as buyers keeps away themselves from bulk bookings. Participants expecting that prices to remain volatile in coming days, SteelMint Notes.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)