Indian DRI, billet and re-bar update - 17 Feb

India's induction furnace (IF) steel market witnessed positive trends today and offers from the mid-sized mills shot up to INR 1,200/tonne (t) ($16/t) d-o-d.

Sponge iron and billet prices surged by INR 300-1,200/t in all locations accept Ramgarh's (Jharkhand) sponge iron market where a slight drop of INR 200/t seen. On the other hand a major hike of INR 1,000 -1,200/t noticed in billet in Rourkela and Chennai.

Rebar (Fe 500) offers rose by INR 300-1,200/t in different regions of the country; a hike of INR 1,200/t was reported from Bangalore (Karnataka).

Though prices shot up over the couple of days, finished sales remained on a low key as buyers held their positon hoping the market to either soften or stabilize.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)