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

In India's induction furnace (IF) steel market, prices remained supported on 7 Mar'22. Offers from the mid-sized mills rose further by up to INR 3,900/tonne (t) ($50/t) d-o-d.

Sponge iron and billet prices increased in the range of INR 700-2,400/t, with the maximum hike seen in Raigarh's billet market.

Rebar (Fe 500) offers also increased by INR 1,300-3,900/t across regions in the country, following a sharp rise recorded in the Muzaffarnagar market.

Prices kept on rising sharply due to the continuous tightness in coal and raw materials prices in the domestic as well as global markets.

Decent trade activities and material movement were noticed by the participants, SteelMint notes.

Click here for re-bar brand wise details