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

India's induction furnace (IF) steel market witnessed weak response from buyers across India at prevailing offers floated by mills, which decreased by up to INR 600/tonne d-o-d on 4 July, 2023.

Sponge iron offers dropped by INR 100-300/t. The highest decline was seen in the Hyderabad and Bellary markets in south India.

Meanwhile, billet prices dropped in the range of INR 100-500/t across regions. The steepest fall was seen in Hyderabad and Bellary markets.

Rebar (Fe 500) offers edged down by INR 100-500/t The highest drop of INR 600/t was seen in Raigarh.

Slow demand was observed in the semi-finished and finished long steel markets. Trading activities were moderate due to volatile sentiments amid an overall bearish outlook.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)