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

India's induction furnace (IF) steel market witnessed downwards price trends today. Offers across mills decreased by up to INR 100-500/tonne d-o-d, on 26 May.

Sponge iron prices fell by INR 100-450/t. Prices witnessed a fall in the Ramgarh sponge iron market by INR 450/t.

Billet prices dropped in the range of INR 100-450/t. Prices fell by INR 450/t in the Raipur billets market today.

Also, rebar (Fe 500) offers decreased in the range of INR 100-500/t. Prices edged down in the Hyderabad market by INR 500/t.

Overall, the market noticed a fall in prices and offers for both semi-finished and finished longs. Spot trades also dropped as sluggish trends emerged from the northern regions of the country which kept buyers away from making bulk bookings. Participants are expecting the market to regain momentum once demand for finished steel increases in the coming days, SteelMint noted.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)