Indian DRI, billet and re-bar update - 18 'April

India's induction furnace (IF) steel market saw mixed price trends as offers floated by the mills varied in the range of INR 50-300/tonne (t) d-o-d on 18'April, 2023.

Sponge iron prices fluctuated by INR 50-300/t. Prices decreased by INR 300/t in the Durgapur market.

Billet prices sharpely fell down in the range of INR 100-200/t. Prices drop by INR 200/t in Mandi, Gobindgarh billet market today.

Also, rebar (Fe 500) offers plunged by INR 100-400/t across regions. Price hike of INR 400/t was seen in Mumbai. However a price decline of 300 was observed in Durgapur.

Overall, the market observed a seesaw price trend in both the semis and finished longs segments. Spot trades were moderate as major buying was not seen throughout the day. Transactions in most regions remained stable, with minimal changes seen in prices.

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SteelMint's price assessment (Region wise)