Indian DRI, billet and re-bar update - 26 Aug

India's induction furnace (IF) steel market witnessed mixed price trends. Offers by the mills varied in the range of INR 50- 500/tonne d-o-d on 26 August, 2022.

Sponge iron prices varied in the range of INR 50-100/t, with an INR 100/t fall seen in the Raipur market.

Billet prices dropped in the range of INR 100-200/t across regions with the maximum price fall of INR 200/t seen in Jalna and Chennai market, however, Gobindgarh Mandi market were slightly hike of INR 200/t.

Rebar (Fe 500) offers dropped INR 300-500/t across regions. Prices rose INR 500/t in north India's Muzaffarnagar market. However, a major price drop of INR 400/t was seen in Raipur.

The market was volatile throughout the day and trading activities remained moderate. Buying interest, however, was low as offers were slightly on the higher side.

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SteelMint's price assessment (Region wise)