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

India's induction furnace (IF) steel market witnessed mixed price trends, while offers across mills varied in the range of INR 50- 2,000/tonne d-o-d on 27 May'22.

Sponge iron and billet prices fluctuated in the range of INR 50-2,000/t following a decrease of INR 2,000/t seen in Chennai's billet market.

Also, rebar (Fe 500) offers dropped in the range of INR 500-1,300/t across regions. Prices fell in the Raipur market by INR 1,300/t.

While many markets saw fluctuations in semi-finished steel prices, offers remained positive in some regions. Finished long steel saw a downtrend in prices amid sluggish demand. Trades rose slightly but were lower than the producers were expecting as buyers remained cautious about procurement.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)