Indian DRI, billet and re-bar update - 14 Aug

India's induction furnace (IF) steel market witnessed mixed price trends. Offers across mills varied in the range of INR 50-500/tonne (t) d-o-d on 14 August.

Sponge iron prices fluctuated by INR 50-500/t. Prices witnessed a fall in the Ramgarh and Jharsugda sponge iron markets by INR 200/t.

Billet prices varied by INR 50-500/t. Prices decreased by INR 500/t in Hyderabad's billet market today.

Also, rebar (Fe 500) offers fluctuated in the range of INR 100-500/t. Prices edged down in Mandi Gobindgarh and Hyderabad by INR 500/t.

Prices witnessed a see-saw trend with semis' seeing some positivity in the northern and central regions markets while the southern and eastern zones witnessed some drop. Spot trades were moderate today as buyers went into a wait-and-watch mode amid the fluctuations. Finished long sales are an important barometer for semis. If longs prices fall, semis become range-bound. If long prices increase, semis see a price uptrend too, sources informed SteelMint.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)