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

India's induction furnace (IF) steel market remained volatile on 14 Feb'22. Offers from the mid-sized mills fluctuated by INR 100-700/tonne (t) d-o-d.

Sponge iron and billets prices varied in the range of INR 100-700/t in major markets, with a major surge of INR 700/t observed in Mumbai and a steep drop of INR 500/t seen in Chennai.

Rebar (Fe 500) offers fluctuated by INR 100-500/t in different regions of the country. Offers floated by the sellers today seemed to be on the higher side in the first half, although subsequently manufacturers had to reduce prices due to low demand.

Market participants reported that buyers were very cautious in a highly volatile market and limited trade activities were witnessed.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)