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

India's induction furnace (IF) steel market saw mixed trends and offers varied in the range of INR 50-500/tonne (t) d-o-d on 27 October, 2022.

Sponge iron prices fluctuated by INR 50-350/t following a maximum price drop of INR 350/t seen in the Ramgarh sponge iron market.

Billet prices fell sharply in the range of INR 50-500/t across regions and a major price drop of INR 500/t was observed in the Raipur billet market.

Also, rebar (Fe 500) offers varied in the range of INR 100-500/t with a major price drop of INR 500/t seen in Hyderabad and Rourkela. However, prices rose by INR 200/t in Delhi.

Slow demand was observed across the semi-finished and finished long steel segments. Trading activities were moderate due to highly volatile sentiments, bearish outlook along with lack of participation by market players.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)