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

India's induction furnace (IF) steel market saw prices remained supported on 4 Mar'22. Offers from the mid-sized mills rose further by up to INR 2,900/tonne (t) ($38/t) d-o-d.

Sponge iron and billet prices increased in the range of INR 300-2,000/t, with the maximum hike seen in Raipur's sponge iron market.

Rebar (Fe 500) offers also increased by INR 500-2,900/t across regions in the country, following a sharp rise seen in the Mumbai market.

Prices moved higher on account of strengthening coal and raw materials prices globally, followed by the hike in prices by the primary mills. Against the backdrop of prevailing bullish trends, trades are taking place on higher offers by the secondary mid-scale mills.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)