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

India's induction furnace (IF) steel market witnessed prices trending higher, while offers by mills increased up to INR 700/tonne d-o-d on 16 Jun'22.

Sponge iron and billet prices surged in the range of INR 100-700/t following a rise of INR 700/t in Raigarh's billet market.

Also, rebar (Fe 500) offers remained elevated in the range of INR 200-700/t across regions. Prices increased in Rourkela by INR 700/t.

Overall, the market observed an uptrend in semi-finished and finished longs prices across regions. Sellers saw active demand throughout the day. Steel demand ranges from average to good amid stable coal prices.

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SteelMint's price assessment (Region wise)