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

India's induction furnace (IF) steel market witnessed negative price trends, as offers floated by mills decreased by INR 500/t d-o-d on 26 June, 2023.

Sponge iron offers dropped by INR 50-250/t. The highest decline was seen in the Durgapur sponge iron market.

Meanwhile, billet prices fell in the range of INR 100-500/t across regions. The steepest fall was seen in Mandi, Gobindgarh and Hyderabad billet markets.

Rebar (Fe 500) offers edged down by INR 100-500/t across regions. The highest drop of INR 500/t was seen in Hyderabad.

A slow start to the trading week dampened demand for semis and resulted in weak buying interest. Poor movement of finished steel was also a key reason behind limited buying activity today.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)