Indian DRI, billet and re-bar update - 6 Dec

India's induction furnace (IF) steel market noticed a positive trend in prices. Offers rose in the range of INR 100-500/tonne (t) d-o-d on 6 December, 2022.

Sponge iron prices increased in the range of INR 100-400/t across regions. The maximum rise of INR 400/t was seen in the Raigarh market.

Billets prices also rose by INR 100-500/t and the major price rise of INR 500/t was seen in the Mumbai billets market.

Moreover, rebars (Fe 500) offers rose by INR 100-500/t with a major price rise of INR 500/t seen in the Jalna and Hyderabad market.

Subdued demand was reported in a majority of markets and with price rally in the northern region, suppliers across regions have kept offers higher, SteelMint noted.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)