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

India's induction furnace (IF) steel market witnessed mixed price trends, while offers across mills fluctuate by up to INR 50-700/tonne d-o-d, on 28 September, 2022.

Sponge iron prices varied by INR 50-200/t. Prices saw a drop in the Jharsugda's sponge iron market by INR 200/t.

Billet prices, on the other hand, varied in the range of INR 50-700/t. Prices saw a rise of INR 700/t seen in Hyderabad's billet market.

Also, rebar (Fe 500) offers increased in the range of INR 100-400/t across regions. Prices edged up in Mumbai's market with INR 400/t.

Overall, the semi finished market witnessed a stable trend with prices falling in the northern region whereas other regions witnessed some hike. Trades were moderate throughout the day as buyers remained cautious for bulk booking. The finish steel demand is still on the lower side which drives market prices in a volatile condition.

Click here for re-bar brand wise details

SteelMint's price assement (Region wise)