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

India's induction furnace (IF) steel market observed mixed trends on 8 Mar'22. Offers from the mid-sized mills fluctuated in the range by INR 100-1,500/tonne (t) d-o-d.

Sponge iron and billet prices varied in the range of INR 100-700/t, with the maximum fall of INR 700/t seen in Raigarh's sponge iron market.

Rebar (Fe 500) offers fluctuated by INR 100-1,500/t across regions in the country, following a sharp rise in the Delhi/ NCR region, north India.

The market saw a slight fall in the first half. However, it started gaining in strength in the latter half. Despite a temporary price correction in the market, participants are hoping that steel prices will be on the higher side.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)