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

India's induction furnace (IF) steel market saw mixed price trends as offers floated by the mills varied in the range of INR 50-350/tonne (t) d-o-d on 12 July.

Sponge iron prices fluctuated by INR 50-200/t. Prices increased by INR 200/t in the Raigarh market.

Billet prices varied in the range of INR 100-350/t. Prices rose by INR 350/t in Raigarh. However, a price decline of INR 100/t was seen in Jalna.

Rebar (Fe 500) offers were volatile, plunging by INR 100-200/t across regions. A price hike of INR 200/t was seen in Raipur while a price drop of INR 200/t was noticed in Bangalore.

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

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SteelMint's price assessment (Region wise)