Indian DRI, billet and re-bar update - 18 May
India’s induction furnace (IF) steel prices witnessed a downtrend today, while offers from the medium-sized mills fell up to INR 1,000/tonne d-o-d on 18 May&...
India's induction furnace (IF) steel prices witnessed a downtrend today, while offers from the medium-sized mills fell up to INR 1,000/tonne d-o-d on 18 May'22.
Sponge iron and billet prices dropped in the range of INR 100-1,000/t following a decline of INR 1,000/t in Chennai's billet market.
Also, rebar (Fe 500) offers edged down in the range of INR 100-700/t across regions. Prices decreased in the Muzzaffarnagar and Hyderabad markets by INR 700/t.
Demand for semi-finished and finished steel remained subdued. Sellers reduced offers due to limited enquiries from buyers. Buying sentiment remained average throughout the day amid high volatility in raw material prices, especially coal.
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SteelMint's price assessment (Region wise)
