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

The domestic induction furnace (IF) steel market remained supported on 20 Jan'22. Steel prices of the mid-sized mills increased by up to INR 700/tonne (t) ($9) d-o-d.

Semi-finished steel, including sponge iron and billet, offers moved up by INR 200-550/t across regions following a sharp hike of INR 800/t in Gujarat's billet market.

Re-bar (Fe 500) prices rose in the range of INR 200-600/t across locations in the country, with the sharpest rise of INR 600/t in Jaipur and Raipur.

The overall market sentiment remained positive in view of active demand today. On the other hand, the primary mills increased offers on account of improving domestic demand and support from the exports markets.

Further, rising raw material prices in the domestic market resulted in a surge in offers across regions.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)