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

India's induction furnace (IF) steel market saw positive price trends today. Offers floated by the mills increased by INR 50-1,000/tonne d-o-d on 8 December, 2022.

Sponge iron prices rose in the range of INR 50-600/t. Meanwhile, prices increased in Jharsugda sponge iron market by INR 600/t.

On the other hand, billets prices rose by INR 300-1,000/t today. Here, the highest rise of INR 1,000/t was seen in the Hyderabad market.

Also, rebars (Fe 500) offers inched up in the range of INR 200-1,000/t across regions. Major prices were up by INR 1,000/t in the Muzaffarnagar market.

Billet and sponge iron prices in most regions saw a rise while finished long prices also increased. A slight recovery in finished steel sales was seen in a major locations.

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SteelMint's price assessment(Region wise)