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

India's induction furnace (IF) steel market witnessed downward price trends, while offers floated by the mills decreased by up to INR 700/tonne (t) d-o-d on 30 June, 2022.

Sponge iron and billet prices fell in the range of INR 100-500/t. Prices dropped INR 500/t in Mumbai's and Hyderabad's billet market.

Also, rebar (Fe 500) offers declined in the range of INR 200-700/t across regions. Prices dropped in the Muzaffarnagar market by INR 700/t.

The market saw a slight decline in semi-finished and finished long steel prices. Some regions witnessed a slight shortage of raw material, especially sponge iron. Sellers reduced offers amidst dull buying.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)