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

The domestic induction furnace (IF) steel market witnessed mixed trends on 19 Jan'22. Steel prices of the mid-sized mills fluctuated in the range of INR 100-500/tonne (t) d-o-d.

Sponge iron and billet offers varied across regions within the range of INR 100-500/t, although billet prices rose by INR 500/t in the southern region, especially in the Hyderabad billet market.

Re-bar (Fe 500) prices fluctuated in the range of INR 100-500/t, with the sharpest rise of INR 500/t in the Delhi/NCR, whereas offers fell by a similar quantum in Hyderabad.

The market remained moderate throughout the day even as decent movement was observed in the semi-finished steel market in Mandi Gobindgarh and Raipur.

Moreover, trades in the finished long segment has been moderate across many locations of the country. Sources are hoping that the market will rise in the coming days on account of higher raw material prices due to improved exports sentiment.

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SteelMint's price assessment (Region wise)