Indian DRI, billet and re-bar update - 22 Sep

India's induction furnace (IF) steel market witnessed dull sentiments prevailing today, as offers floated by the mills decreased by INR 100-600/tonne d-o-d on 22 September, 2022.

Sponge iron offers also dropped by INR 50-300/t. The highest decline of INR 300/t was seen in eastern region's Durgapur and Jharsuguda sponge markets.

Billet prices dropped by INR 50-550/t across regions with the maximum fall of INR 550/t seen in the Durgapur billet market.

In addition, rebar (Fe 500) offers edged down from INR 100-600/t across regions. Prices witnessed a major drop of INR 600/t in Mujaffarnagar market. However, a slight hike of INR 100/t was seen in the central region's Raigarh market.

Active demand in finished steel products was reported in central and eastern India but at lower offers. However, in other locations, it remained moderate. Hence, prices remained on the lower side, especially in rebars in western and northern parts.

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SteelMint's price assement (Region wise)