Indian DRI, billet and re-bar update - 16 Aug

On 16 August, the induction furnace (IF) steel market in India witnessed positive price trends, with offers across mills rising by INR 900/tonne (t) d-o-d.

Sponge iron prices increased by INR 100-400/t. Durgapur and Ramgarh market prices increased by INR 400/t.

Billet prices rose by INR 200-700/t. In Mumbai, prices were up by INR 700/t.

Furthermore, rebar (Fe 500) offers rose in the range of INR 100-900/t. Rebar prices in Raigarh increased by INR 900/t d-o-d.

The finished longs (rebar) segment experienced increased demand in the central and eastern regions, while demand in the remaining parts of the country was moderate. Also, trading volumes increased after being slow for a few days, according to SteelMint sources.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)