Indian DRI, billet and re-bar update - 4 Jan

India's induction furnace (IF) steel market remained dull on 4 January 2023 with offers across products declining in the range of INR 100-500/tonne (t) d-o-d.

Sponge iron offers dropped by INR 200-450/t. The highest decline was seen in the Hyderabad market.

Meanwhile, billets prices fell in the range of INR 100-500/t across regions with the maximum fall seen in the Mumabi market.

Also, rebars (Fe 500) offers edged down by INR 100-500/t across regions. The highest drop of INR 500/t was seen in the Raigarh and Hydearabad market.

Overall, the steel market was volatile throughout the day and trading activities remained firm. Buying interest, however, slowed down as offers were slightly on the higher side.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)