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

India's induction furnace (IF) steel market witnessed a downtrend in prices, as offers floated by mills decreased by INR 400/t d-o-d on 20 June, 2023.

Sponge iron offers dropped in the range of INR 50-200/t. The highest decline was seen in the Ramgarh market.

Meanwhile, billet prices fell in the range of INR 100-400/t across regions. The maximum decline was witnessed in Delhi.

Rebar (Fe 500) offers edged down by INR 100-400/t across regions. The highest drop of INR 400/t was seen in Delhi, Rourkela and Raipur.

The semi-finished and finished long steel markets witnessed negative sentiments as steel prices in north India edged lower. Spot trade remained just about moderate as buyers shied away from bulk bookings. Market participants are expecting prices to remain volatile in the coming days.

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SteelMint's price assessment (Region wise)