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

India's induction furnace (IF) steel market witnessed a downward price trend as offers floated by mills decreased by INR 600/t d-o-d on 15 June, 2023.

Sponge iron offers dropped by INR 50-400/t. The highest decline was seen in the Jharsuguda market.

Meanwhile, billet prices fell in the range of INR 100-200/t across regions. The maximum fall was seen in Durgapur and Jalna billet markets.

Also, rebar (Fe 500) offers edged down by INR 100-400/t across regions. The highest drop of INR 400/t was seen in Jaipur.

Overall, the market observed subdued buying interest in the majority of locations amid a surge in offers. Participants are assuming that if demand remains at similar levels, prices are likely to remain volatile because of sufficient inventories with suppliers.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)