Indian DRI, billet and re-bar update - 17 Jan

The domestic induction furnace (IF) steel market saw prices inching up on 17 Jan'22. Steel prices of the mid-sized mills increased by up to INR 1,550/tonne (t) ($21) d-o-d.

Sponge iron and billet offers surged within a wide range of INR 50-1,550/t at different locations in the country following a major hike of INR 1,550/t in Ramgarh's (Jharkhand) billet market.

Re-bar (Fe 500) prices increased by INR 300-1,200/t in major markets with the maximum rise of INR 1,200/t seen in Durgapur, West Bengal.

The market remained supported today due to a sharp surge in semi-finished steel prices. Despite that, healthy material movement was reported.

On the other hand, sentiments varied region-wise in the finished long sengment. A few regions saw healthy trading, while at other locations trades remained moderate.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)