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

The domestic induction furnace (IF) steel market remained on positive side as on 12 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 offers rose in the range of INR 50-250/t across locations in the country. Whereas, prices fell by INR 500/t in Hyderabad's billet market.

Also, re-bar (Fe 500) offers increased by INR 100-600/t in many regions however, a sharp hike of INR 600/t was noticed in Rourkela.

Higher raw material prices forced mid sized mills to keep prices north wards. However, moderate trade activity has been observed in a few major markets.

On the other hand, due to slight supply shortage and coal price hike, pig iron manufacturers in central, west & eastern regions have raised their offers which resulting tightness in semi finished market.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)