Indian DRI, billet and re-bar update - 29 Dec

India's induction furnace (IF) steel market witnessed negative price trends, while offers across mills decreased by up to INR 750/tonne d-o-d on 29 Dec, 2022.

Sponge iron prices edged down by INR 50-400/t. On the other hand, prices saw a fall in Jharsuguda's sponge iron market by INR 400/t.

Billets prices also fell in the range of INR 100-750/t. Prices declined by INR 750/t in Rourkela's billets market today.

Also, rebars (Fe 500) offers saw a stable price trend today in most of the regions. Prices saw a rise in Raipur markets with INR 400/t.

Today, market witnessed a fall in semi-finished segment while finished long showed a stable price trend. Spot trades remained low to moderate as since last few days buyers booked a good amount of material in both segments. Meanwhile, the northern region market remained less active due to Gurpurab festival which ultimatlely led to falling prices and offers, SteelMint noted.

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SteelMint's price assessment (Region wise)