Indian DRI, billet and re-bar update - 11' May

India's induction furnace (IF) steel market saw mixed price trends as offers floated by the mills varied in the range of INR 50-600/tonne (t) d-o-d on 11 May, 2023.

Sponge iron prices fluctuated by INR 50-500/t. Prices decreased by INR 500/t in the Durgapur market.

Billet prices fell sharpely by INR 100-500/t. Prices dropped by INR 500/t in the Durgapur billets market today.

Also, rebar (Fe 500) offers plunged by INR 100-600/t across regions. A decline of INR 500/t was observed in Hyderabad and Raigarh. However, a price hike of INR 300/t was seen in Jalna.

Overall, prices see-sawed in both semis and finished longs segments. Spot trades were moderate as major buying was not seen throughout the day. Transactions in most regions remained stable, with minimal changes seen in prices.

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SteelMint's price assessment (Region wise)