Indian DRI, billet and re-bar update - 24 Jun

India's induction furnace (IF) steel market witnessed positive price trends, while offers floated by the mills increased up to INR 1,000/tonne d-o-d on 24 June, 2022.

Sponge iron and billet prices surged in the range of INR 50-800/t. Prices increased by INR 800/t in Durgapur's billet market.

Rebar (Fe 500) offers rose in the range of INR 200-1,000/t across regions. Prices inched up in the Hyderabad's market by INR 1,000/t.

Overall, the semi-finished and finished long market saw a surge in prices in all regions. Sellers kept floating offers higher amid active buying observed throughout the day. Higher coal prices and shortage of scrap, especially in the northern region, kept pushing prices higher today.

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SteelMint's price assessment (Region wise)