Indian DRI, billet and re-bar update - 27 Jan

Steel prices in the domestic induction furnace (IF) market remained supported on 27 Jan'22. Prices of the mid-sized mills surged up to INR 1,350/tonne (t) ($18/t) d-o-d.

Sponge iron and billet offers increased in the wide range of INR 100-1,350/t across locations in the country.

A sharp hike of around INR 1,350/t was observed in Raigarh's billet market. Announcement of production cuts in Raigarh remains, the major factor behind sharp surge in billet prices in central region.

Re-bar (Fe 500) prices shoot up by INR 400-1,100/t in many regions following a major hike of INR 1,100/t in Bangalore (Karnataka).

Market sentiments are remain positive due to continuous increase in raw materials prices i.e. coal & pellets.

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SteelMint's price assessment (Region wise)