Indian DRI, billet and re-bar update - 8 Apr

India's induction furnace (IF) steel market witnessed a downturn on 8 Apr'22 as offers from the medium-sized mills decreased by up to INR 1,500/tonne ($20) (t) d-o-d.

Sponge iron and billet prices fell in the range of INR 250-1,500/t following a decrease of INR 1,500/t seen in Raigarh and Jalna's billet.

Also, rebar (Fe 500) offers edged down in the range of INR 100-600/t across regions. Prices witnessed a sudden decline of INR 600/t in Raipur , Mandi Gobindgarh and Jaipur's market.

The market remained quiet throughout the day, with demand remaining largely lacklustre in major markets. Sellers are hoping for a turnaround in the market but dull demand continues to weigh on prices.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)