Indian DRI, billet and re-bar update - 19'July

India's induction furnace (IF) steel market witnessed a downward trend in prices on 19 July, 2023. Offers floated by mills fell in the range of INR 50-450/tonne (t).

Sponge iron prices went down by INR 50-300/t. Prices in Durgapur and Raipur fell by INR 300/t.

Billet prices dropped by INR 200-450/t. The maximum decline was seen in Raigarh market.

Meanwhile, rebar (Fe 500) offers decreased in the range of INR 100-400/t. Prices edged down in Raipur by INR 400/t.

Trades were limited today with declining prices in north India, which limited spot trades and led to softening of offers in major locations.

The outlook remains unclear among market participants who are waiting before taking positions for future bookings, SteelMint notes.

Click here for re-bar brand wise details

SteelMint's price assement (Region wise)