Indian DRI, billet and re-bar update - 14 Jun.

India's induction furnace (IF) steel market followed a downward price trend across commodities today. Mills' offers dropped by up to INR 700/tonne (t) compared to the previous trading session.

Sponge iron prices decreased in the range of INR 100-300/t with the highest fall seen in the Raigarh and Ramgarh markets.

Billet prices fell by INR 100-500/t. The highest drop was seen in Mandi, Gobindgarh.

Rebar (Fe 500) offers also fell by INR 100-700/t with the Goa market witnessing the highest drop.

Overall, markets experienced a price fall in terms of both semi-finished and finished longs. Spot trades also dropped as a sluggish trend in the northern region kept buyers away from bulk bookings. Participants feel the market will regain momentum once demand for finished steel increases in the upcoming days.

Click here for rebar brand-wise details

BigMint's price assessment (Region wise)