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

India's induction furnace (IF) steel market witnessed negative price trends today. Offers across mills decreased by upto INR 1,000/tonne d-o-d on 15 July 2022.

Sponge iron and billet prices dropped in the range of INR 50-900/t. Prices fell by INR 900/t in Raigarh's and Raipur billet market.

Also, rebar (Fe 500) offers dropped by INR 100-1,000/t across regions. Prices fell by INR 1,000/t in Rourkela's market.

Overall, the market witnessed a downtrend in terms of prices and offers. Buying remained dull throughout the day with limited enquiries from buyers. A price correction is expected from the participants amid seasonally weak demand for steel products in the coming weeks, SteelMint notes.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)