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

India's induction furnace (IF) steel market witnessed mixed price trends today. Offers floated by the mills varied in the range of INR 50-300/tonne d-o-d on 15 September, 2022.

Sponge iron prices varied in the range of INR 50-200/t. Prices fell by INR 200/t in the Raigarh market. However, a slight hike of INR 100/t was seen in the Durgapur market.

Billet prices fluctuated in the range of INR 50-250/t across regions with the maximum price drop of INR 200/t seen in Ramgarh's billet market.

Rebar (Fe 500) offers increased by INR 100-300/t across regions. Prices rose by INR 300/t in Mumbai and Bangalore. However, a marginal price drop of INR 200/t was seen in the Raigarh market.

The market observed a slight improvement in semi-finished steel offers, especially in the central, east & western regions. A majority of participants stayed away from taking positions and are waiting for prices to stabilise, SteelMint noted.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)