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

The domestic induction furnace (IF) steel market remained dull on 29 Dec'21. Prices of secondary steel of the mid-sized mills declined by up to INR 700/tonne (t) ($9/t) d-o-d.

Sponge iron and billet prices decreased in the range of INR 50-700/t across the country with a major fall of INR 650-700/t seen in Durgapur and Mumbai.

Re-bar (Fe 500 grade) prices fell by INR 100-500/t at all locations except Delhi/NCR where offers increased by INR 300/t.

The market was dull today with lack of buying enquiries and lack of trading. Suppliers mostly focused on clearing future bookings.

SteelMint observed no selling pressure in the semis products, as sellers have sufficient bookings at hand.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)