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

India's induction furnace (IF) steel market saw mixed price trends as offers varied in the range of INR 50-500/tonne (t) d-o-d on 7 October, 2022.

Sponge iron prices fluctuated in the range of INR 150-200/t, following the maximum decrease of INR 200/t in Raigarh's sponge iron market.

However, a slight hike of INR 200/t was seen in the Bellary and Hyderabad markets in south India.

Billets prices fluctuated in the range of INR 50-400/t across regions, with the maximum fall of INR 500/t noticed in the Chennai market. However, a major hike of INR 400/t was witnessed in Mumbai.

Also, rebar (Fe 500) offers varied in the range of INR 100-200/t, with the major decline of INR 200/t seen in the Rourkela market.

The overall market was volatile throughout the day and trading activities remained low to moderate levels. Largely need base buying was observed across the regions. Buying interest, however, was low as offers were slightly on the higher side.

Click here for re-bar brand wise details

SteelMint's price assement (Region wise)