Indian DRI, billet and re-bar update - 5 Dec

India's induction furnace (IF) steel market noticed a positive trend in prices. Offers rose in the range of INR 200-1,050/tonne (t) d-o-d on 5 December, 2022.

Sponge iron prices rose in the range of INR 200-500/t across regions. The maximum rise of INR 500/t was seen in the Raigarh market.

Billets prices also hike by INR 200-1,050/t and the major price rise of INR 1,050/t was seen in the central region's Raigarh billets market.

Moreover, rebar (Fe 500) offers rose by INR 200-700/t with a major price rise of INR 700/t seen in the Raigarh market.

Overall, the market observed subdued buying interest in majority of locations with surge in offers. Participants are assuming that if the demand remains same, the prices are likely to remain volatile considering sufficient inventories with the suppliers.

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SteelMint's price assessment (Region wise)