Indian DRI, billet and re-bar update - 15 Apr

Prices remained supported on India's induction furnace (IF) steel market on 15 Apr'22. Offers from the mid-sized mills rose further by up to INR 2,500/tonne (t) ($33/t) d-o-d.

Sponge iron and billet prices increased in the range of INR 550-2,050/t, with the maximum hike seen in Durgapur's billet market.

Rebar (Fe 500) offers increased by INR 300-2,500/t across regions in the country, following a sharp rise recorded in the Muzaffarnagar market.

Prices kept rising sharply due to persistent tightness in coal and raw material prices in the domestic as well as global markets.

Market sources informed that both trading activity and material movement in the market improved today, which will continue to support prices.

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SteelMint's price assessment (Region wise)