Indian DRI, billet and re-bar update - 25 Mar

India's induction furnace (IF) steel market remained dull due to slow demand on 25 Mar'22 as offers from the mid-sized mills decreased by up to INR 1,600/tonne (t) ($21) d-o-d.

Sponge iron and billet prices declined in the range of INR 100-1,300/t. However, a sharp fall of INR 1,300/t was observed in Raipur's billet market.

Also, rebar (Fe 500) offers edged down in the range of INR 300-1,600/t across regions. Prices fell sharply by INR 1,600/t in Durgapur, eastern India.

The market remained dull due to limited enquiries. However, prices rebounded later in the northern region due to slight improvement in spot trades, SteeelMint notes.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)