Indian DRI, billet and re-bar update - 2 Aug

India's induction furnace (IF) steel market witnessed positive trend, as offers increased by up to INR 800/tonne (t) d-o-d on 2 August.

Sponge iron prices rose in the range of INR 100-350/t. Prices increased in Durgapur's sponge iron market by INR 350/t.

Billet prices surged in the range of INR 100-800/t across regions with the maximum rise of INR 800/t seen in Mandi Gobindgarh's billet market.

Also, rebar (Fe 500) offers rose in the range of INR 100-800/t across regions with INR 800 rise seen in Mumbai market.

The semi-finished and finished long steel price saw an uptrend across all markets. However trades remained moderate due to unpredicted market sentiments.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)