Indian DRI, billet and re-bar update - 30 Dec

India's induction furnace (IF) steel market noticed mixed price trends and offers varied in the range of INR 50-650/tonne (t) d-o-d on 30 December, 2022.

Sponge iron prices fluctuated in the range of INR 50-400/t. A major price hike of INR 400/t was observed in Ramgarh and Durgapur markets.

Moreover, billets offers varied in the range of INR 200-650/t. Meanwhile, the major price increase of INR 650/t was seen in Durgapur's billets market.

Also, rebars (Fe 500) prices fluctuated in the range of INR 100-300/t across the regions. A price hike of INR 300/t was seen in Delhi market.

Subdued demand was reported in a majority of markets and with price rally in the northern region, suppliers across regions kept offers higher, SteelMint noted.

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SteelMint's price assessment (Region wise)