Indian DRI, billet and re-bar update - 23 Sep

India's induction furnace (IF) steel market noticed mixed trends. Offers varied in the range of INR 50-500/tonne (t) d-o-d on 23 September, 2022.

Sponge iron prices fluctuated by INR 50-300/t following a maximum decrease of INR 300/t observed in Bellary sponge iron market. However, a slight hike of INR 100/t was seen in eastern region's Jharsugda and Durgapur markets.

Billet prices rose in the range of INR 100-450/t across regions. A hike of INR 450/t was seen in the Mandi Gobindgarh billet market.

Also, rebar (Fe 500) offers varied by INR 100-500/t with a major price fall of INR 500/t seen in the Hyderabad market.

The market saw volatility in semi-finished and finished long steel prices amid moderate buying except in central and eastern regions, where demand for semis and finished steel products remained active and sufficient trades were reported by the suppliers.

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SteelMint's price assement (Region wise)