Indian DRI, billet and re-bar update - 28, June

India's induction furnace (IF) steel market witnessed nagetive price trends, Offers across mills declined by INR 500/tonne (t) d-o-d on 28 June, 2023.

Sponge iron offers dropped by INR 50-250/t. The highest decline was seen in the Bellary's market.

Meanwhile, billet prices drop in the range of INR 100-500/t across regions. The maximum fall was seen in Hyderabad's billet market.

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

The overall market was volatile throughout the day and trading activities remained firm. Market sources are expecting prices to remain under pressure in coming short term due to on going monsoon sisson.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)