Indian DRI, billet and re-bar update - 19 April

India's induction furnace (IF) steel market witnessed negative price trends today. Offers across mills decreased by up to INR 500/tonne d-o-d, on 19 April, 2023.

Sponge iron offers sharply fell by INR 100-150/t. The highest decline of INR 150/t was seen in the Ramgarh and Raipur sponge iron markets.

Billet prices dropped in the range of INR 100-400/t across regions with the maximum fall of INR 400/t seen in the Ramgarh billet market.

Also, rebar (Fe 500) offers fell by INR 100-500/t across regions. The highest drop of INR 500/t was seen in Hyderabad.

Overall, the market observed negative price trends and low trades. Sources are expecting semis' prices to remain under pressure on account of a slight rise in inventories with both semis and finished long steel producers.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)