Indian DRI, billet and re-bar update - 14'April

India's induction furnace (IF) steel market witnessed an uptrend in prices as offers floated by the mills increased by INR 700/tonne (t) d-o-d on 14 April, 2023.

Sponge iron prices edged up in the range of INR 50-250/t. Prices rose by INR 250/t in the Raipur market.

Billet prices increased by INR 100-400/t. The Mumbai market saw an increase in prices by INR 400/t d-o-d today.

Rebar (Fe 500) offers rose in the range of INR 100-700/t. Prices in Chhattisgarh's Raipur market rose by INR 700/t d-o-d.

Overall, the semi-finished market witnessed a slight increase in offers. Also, a hike in prices was witnessed for finished steel sales across regions. Trade volumes were moderate throughout the day, as buyers remained wary about bulk bookings.

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SteelMint's price assessment (Region wise)