Indian DRI, billet and re-bar update - 3 Aug

India's induction furnace (IF) steel market noticed mixed trends and offers varied in the range of INR 100-900/tonne (t) d-o-d on 3 August.

Sponge iron prices fluctuated in the range of INR 100-500/t with a rise of INR 500 seen in the southern market (Hyderabad and Bellary).

Moreover, billet offers dropped by INR 200-600/t. However, a slight hike of INR 150/t was seen in Ramgarh market.

Also, rebar (Fe 500) offers varied in the range of INR 200-900/t with a major increase of INR 900/t seen in Mumbai.

The overall market was volatile throughout the day and trading activities remained firm. Buying interest, however, was low as offers were slightly on the higher side.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)