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

India's induction furnace (IF) steel market witnessed upward price trends today. Offers across mills rose by INR 900/tonne (t) d-o-d on 8 May.

Sponge iron prices were up by INR 100-900/t. Prices rose by INR 900/t in the Jharsugda market.

Billets prices increased by INR 300-750/t. The Raigarh market saw an increase of INR 750/t today.

In addition, rebar (Fe 500) offers rose in the range of INR 100-600/t. Prices in Muzaffarnagar were up by INR 600/t d-o-d.

Active demand in finished steel products was reported from central and eastern India but at lower offers. However, in other locations, demand remained moderate. Hence, prices remained on lower side, specially for rebars, in the western and northern parts of the country.

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SteelMint's price assessment (Region wise)