Indian DRI, billet and re-bar update - 2 Jan
India’s induction furnace (IF) steel market witnessed positive price trends as offers across mills increased up to INR 1,500/tonne (t) d-o-d, on 2 Jan’...
India's induction furnace (IF) steel market witnessed positive price trends as offers across mills increased up to INR 1,500/tonne (t) d-o-d, on 2 Jan'23.
Sponge iron prices edged up by INR 100-500/t. Prices saw a rise of INR 500/t in Raipur and Bellary.
Billets prices saw an uptick of INR 350-1,500/t. The maximum rise was seen in the Mumbai market.
Also, rebar (Fe 500) offers rose in the range of INR 200-900/t. The maximum hike was seen in the Durgapur market.
Overall, the steel market remained positive in terms of prices across regions but spot trade was moderate throughout the day because buyers were cautious about booking material in bulk. An increase in raw material prices and an improvement in exports turned sentiments positive in the semi-finished and finish long steel markets, SteelMint notes.
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SteelMint's price assessment (Region wise)
