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

India's induction furnace (IF) steel prices fluctuated sharply with offers of the medium-sized mills varying in the range of INR 50-1,100/t d-o-d on 19 May 2022.

Sponge iron and billets prices witnessed a variation of INR 50-650/t. However, the market seemed to be dull in southern and western parts of India.

Also, rebar (Fe 500) offers fluctuated in the range of INR 200-1,100/t across regions. The highest fall of INR 1,100/t was noticed in Jalna (Maharashtra).

A huge variation was observed in offers floated by manufacturers due to lackluster trades throughout the day. Demand for finished steel continues to remain sluggish.

Participants said that major players in the market are trying to push sales by raising offers since the couple of days. But this also, seemed to have failed in attracting buying enquiries.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)