Indian DRI, billet and re-bar update - 21 Nov
India’s induction furnace (IF) steel market witnessed mixed price trends, while offers across mills varied in the range of INR 100-2,000/tonne d-o-d, on 21 Nov&...
India's induction furnace (IF) steel market witnessed mixed price trends, while offers across mills varied in the range of INR 100-2,000/tonne d-o-d, on 21 Nov'22.
Sponge iron prices fluctuated by INR 100-600/t. Prices witness a rise in Ramgarh's sponge iron market by INR 600/t.
Billet prices vaired in the range of INR 200-1,400/t. Prices noticed a rise of INR 1,400/t seen in Mandi Gobindgarh's billet market.
Also, rebar (Fe 500) offers varied in the range of INR 100-2,000/t across regions. Prices witness a sharp hike in Muzaffarnagar's market with INR 2,000/t.
Overall, the market witnessed price volatility in semis and finished longs. Spot trades were lower today as prices were volatile in most of the regions which ultimately led buyers to remain cautious about bookings. Market participants were waiting for prices to attain some stability after the government's recent decision to roll back export duty.
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SteelMint's price assessment (Region wise)
