Indian DRI, billet and re-bar update - 9' Aug

India's induction furnace (IF) steel market saw mixed price trends as offers floated by the mills varied in the range of INR 50-300/tonne (t) d-o-d on 9 August,2023.

Sponge iron prices increased by INR 50-200/t and in the Jharsugda market, by INR 200/t in particular.

Billet prices varied in the range of INR 500-200/t. The Mumbai market saw a fall of INR 200/t.

Rebar (Fe 500) offers plunged by INR 100-300/t across regions. A price hike of INR 300/t was seen in Mujaffarnagar. However, a price drop of INR 300/t was seen in Mumbai and Chennai.

Overall, the market remained volatile throughout the day along with steady trading activity. However, buying interest was low as the past few days were characterized by uncertainty over offers.

Click here for re-bar brand wise details

Steel Mint's price assessment (Region wise)