Indian DRI, billet and re-bar update - 5 Sept.
India’s induction furnace (IF) steel market saw mixed price trends as offers floated by the mills varied in the range of INR 50-500/tonne (t) d-o-d on 5 Septemb...
India's induction furnace (IF) steel market saw mixed price trends as offers floated by the mills varied in the range of INR 50-500/tonne (t) d-o-d on 5 September,2023.
Sponge iron prices fluctuated by INR 50-150/t. Prices increased by INR 150/t in the Ramgarh market.
Billet prices varied in the range of INR 100-200/t. The Mumbai market saw a hike of INR 200/t.
Rebar (Fe 500) offers plunged by INR 100-400/t across regions. A price hike of INR 400/t was seen in Hyderabad, while a price drop of INR 500/t was noticed in Hyderabad.
Overall, the market remained volatile throughout the day, along with steady trading activity. However, buying interest was low as the past few days were characterised by uncertainty over offers.
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SteelMint's price assessment (Region wise)