Indian DRI, billet and re-bar update - 6 Sept.

India's induction furnace (IF) steel market witnessed a downtrend in prices across commodities today. Offers floated by mills dropped by up to INR 550/tonne (t) compared to the previous trading session.

Sponge iron prices decreased in the range of INR 150-350/t, with the highest fall seen in the Raipur market.

Billet prices fell in the range of INR 100-550/t. The highest drop was seen in Raigarh.

Rebar (Fe 500) offers also moved down by INR 100-300/t, with the Raipur market witnessing the steepest drop.

Trades were limited today with declining prices in the central and eastern regions which, in turn, limited spot trades leading to softening in offers. The outlook remains unclear among participants. Hence they are waiting before taking positions for future bookings.

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SteelMint's price assessment (Region wise)