Indian DRI, billet and re-bar update - 7 Apr

India's induction furnace (IF) steel market witnessed mixed trends on 7 Apr'22, as offers from the medium-sized mills varied in the range of INR 50-1,000/tonne (t) d-o-d.

Sponge iron and billet prices fluctuated in the range of INR 50-1,000/t following a decrease of INR 1,000/t noticed in Chennai's billet market in southern India.

Also, rebar (Fe 500) offers varied in the range of INR 200-1,000/t across regions. Prices declined sharply by INR 1,000/t in Mumbai, western India.

Spot trades remain moderate and prices exhibited mixed trends in almost all segments. Sellers are hoping for a price recovery in the coming days, although buying interest continues to remain dull in almost all markets.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)