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

India's induction furnace (IF) steel market witnessed an uptrend in prices today as offers rose up to INR 1,000/tonne (t) d-o-d on 14 February, 2023.

Sponge iron prices increased in the range of INR 300-600/t across regions. The maximum hike of INR 600/t was seen in the Raipur and Durgapur markets.

Billet prices increased in the range of INR 100-900/t and the maximum rise of INR 900/t was seen in the Raigarh and Jalna market.
Rebar (Fe 500) offers inched up in the range of INR 100-1,000/t, with the major price hike of INR 1,000/t seen in Raipur.

The finished longs steel market saw improved demand in the central and eastern regions today, while demand was moderate in other parts of the country. Also, trading momentum picked up, which was dull over the last few days.

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SteelMint's price assessment (Region wise)