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Indian DRI, billet and re-bar update - 15'Feb.

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BigMint Bureau

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15 Feb 2024, 18:56 IST

Indian DRI, billet and re-bar update - 15'Feb.

India's induction furnace (IF) steel prices witnessed an upward trends, as offers floated by mills rose by INR 400/tonne (t) d-o-d on 15 February, 2024.

Sponge iron prices edged up by INR 100-300/t. Prices rose by INR 300/t in the Raipur and Ramgarh markets.

Billet prices increased by INR 100-300/t. The Ahmedabad market saw an increase of INR 300/t today.

In addition, rebar (Fe 500) offers rose in the range of INR 100-400/t. Prices in Raigarh went up by INR 400/t d-o-d.

Overall, the market continued to witness an upward trend today in the semi-finished and finished long steel segments because of strong price trends across regions. Trades were moderate today as no bulk bookings appeared from the buyers' side. Market participants are expecting an improvement in finished long sales in the coming days.