Indian DRI, billet and re-bar update - 21 Jan

The domestic induction furnace (IF) steel market witnessed dull trends on 21 Jan'22. Steel prices of the mid-sized mills decreased by up to INR 650/tonne (t) ($9) d-o-d.

Semi-finished steel, including sponge iron and billet, offers fell by INR 100-650/t in major markets, whereas prices remained supported in the southern region's sponge iron market, increasing by INR 100-300/t.

Re-bar (Fe 500) prices remained mostly stable across locations in the country. However, a marginal fall of INR 200/t was seen in Rourkela.

Limited trade activities were observed throughout the day as mills owners have sufficient bookings in hand. On the other hand, trading in Mandi Gobindgarh dropped sharply and the tremors were felt in other markets.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)