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

India's induction furnace (IF) steel market witnessed downward price trends. Offers floated by the mills decreased by up to INR 500/tonne (t) d-o-d on 19 September, 2022.

Sponge iron prices edged down by INR 100-300/t with the highest drop seen in Jharsuguda market.

Billet prices dropped in the range of INR 50-500/t across regions with the highest fall seen in southern India's Hyderabad market.

Also, rebar (Fe 500) offers fell down in the range of INR 100-500/t across regions with the highest decline seen in Hyderabad.

The market remained silent due to uncertain price trends. Buyers seemed less interested in booking new orders due to the sharp fall in prices. However, a few participants believe that semis offers should rebound soon due to limited production in major locations.

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SteelMint's price assement (Region wise)