Indian DRI, billet and re-bar update - 12 Dec

India's induction furnace (IF) steel market noticed mixed price trends and offers varied in the range of INR 50-500/tonne (t) d-o-d on 12 Dec'2022.

Sponge iron prices fluctuated in the range of INR 100-300/t across regions. However, a slight hike of INR 150/t was seen in Eastern regions Durgapur market.

Billet prices fluctuated in the range of INR 50-250/t with a maximum price up of INR 250/t was noticed in Mandi, Gobindgarh billet market.

Also, rebar (Fe 500) offers varied in the range of INR 100-500/t with a major decline of INR 500/t seen in Raigarh.

Slow demand has been observed across semi-finished and finished long steel segments. Trading activities were moderate due to highly volatile sentiments and bearish outlook.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)