Indian DRI, billet and re-bar update - 20 Dec

India's induction furnace (IF) steel market saw price corrections, while offers from the medium-sized mills fell by up to INR 500/tonne (t) d-o-d on 20 December, 2022.

Sponge iron offers dropped by INR 100-450/t. The highest decline of INR 450/t was seen in the Bellary sponge market.

Billets prices dropped in the range of INR 100-500/t across regions with the maximum fall of INR 500/t seen in Hyderabad's billets market.

Also, rebars (Fe 500) offers edged down in the range of INR 100-500/t across regions. Prices saw a major drop of INR 500/t in Hyderabad market.

Overall, market noticed a downfall in terms of offers and prices. Semi-finished prices kept decreasing today as low demand was observed. Finished long also fell accross the region.

Click here for re-bar brand wise details

SteelMint's price assessment(Region wise)