Indian DRI, billet and re-bar update - 24 May
India’s induction furnace (IF) steel market witnessed negative price trends. Offers across mills decreased in the range of INR 50-700/tonne (t) d-o-d on 24 May,...
India's induction furnace (IF) steel market witnessed negative price trends. Offers across mills decreased in the range of INR 50-700/tonne (t) d-o-d on 24 May, 2023.
Sponge iron prices went down by INR 100-700/t. Prices in Jharsugda fell by INR 700/t.
Billet prices dropped by INR 200-500/t. The maximum decline was seen in Hyderabad and Chennai markets today.
Also, rebar (Fe 500) offers slipped in the range of INR 100-500/t. Prices fell by INR 500/t in Hyderabad.
Active demand for finished steel products was reported in central and eastern India but at lower offers. However, in other locations, demand remained moderate. Hence, prices remained on the lower side, especially for rebars, in the western and northern zones.
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SteelMint's price assement (Region wise)
