Indian DRI, billet and re-bar update - 18, May
India’s induction furnace (IF) steel market witnessed prices drifting down today as offers floated by mills decreased up to INR 50-500/tonne (t) d-o-d on 18 May...
India's induction furnace (IF) steel market witnessed prices drifting down today as offers floated by mills decreased up to INR 50-500/tonne (t) d-o-d on 18 May, 2023.
Sponge iron prices fell by INR 50-400/t. Prices fell by INR 400/t in the Raipur market.
Billet prices dropped in the range of INR 200-450/t. Prices fell by INR 450/t in the Durgapur market today.
Rebar (Fe 500) offers decreased in the range of INR 100-500/t. Prices edged down in Durgapur by INR 500/t.
Semis and finished long steel prices remained in negative territory today as the market in north India was subdued. Spot trades were moderate as buyers kept away from bulk bookings. Market participants expect prices to remain volatile in the coming days.
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SteelMint's price assessment (Region wise)
