Indian DRI, billet and re-bar update - 21' June

India's induction furnace (IF) steel market saw mixed price trends as offers floated by mills varied in the range of INR 50-400/tonne (t) d-o-d on 21 June, 2023.

Sponge iron prices fluctuated by INR 50-400/t. Prices decreased by INR 400/t in the Raipur market.

Billet prices increased by INR 100-200/t. The Mumbai market saw an increase of INR 200/t in prices today.

In addition, rebar (Fe 500) offers fell in the range of INR 100-300/t. Prices in Mujaffarnagar declined by INR 300/t d-o-d.

The finished longs (rebar) steel market saw improved demand in the central and eastern regions, while demand was moderate in other parts of the country. Also, trading has picked up which was dull for the last few days, sources informed SteelMint.

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SteelMint's price assessment (Region wise)