Indian DRI, billet and re-bar update - 13 Apr

India's induction furnace (IF) steel market witnessed an uptrend on 13 Apr'22 as offers from the medium-sized mills increased by up to INR 2,000/tonne ($26/t) d-o-d.

Sponge iron and billet prices surged in the range of INR 450-2,000/t. Prices rose by INR 2,000/t in Mumbai's billet market in western India.

Also, rebar (Fe 500) offers rose in the range of INR 500-2,000/t across regions. Prices witnessed a sharp rise of INR 2,000/t in Muzzafarnagar.

After witnessing a downtrend for over a week, the market bustled with activity today. Healthy trading volumes were recorded throughout the day. However, stability on prevailing offers remains a major question with market participants as demand generally slows down when prices start climbing.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)