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

India's induction furnace (IF) steel market witnessed a mixed trend in prices today. Mills' offers fluctuated by up to INR 300/tonne (t) compared to the previous trading session.

Sponge iron prices fluctuated in the range of INR 100-150/t. The sharpest increase of INR 150/t was seen in Rourkela and Durgapur, while a decline of INR 100/t was seen in the Bellary and Hyderabad markets.

Billet prices increased by INR 100-300/t. The Rourkela market saw an increase of INR 300/t today.

In addition, rebar (Fe 500) offers rose in the range of INR 100-300/t. Prices in Delhi moved up by INR 300/t d-o-d.

The finished long steel market saw moderate demand across regions, with prices rising in the northern region amid steel prices strengthening in key locations.

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BigMint's price assessment (Region wise)