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

India's induction furnace (IF) steel market witnessed mixed price trends. Offers across mills varied in the range of INR 50-550/tonne d-o-d, on 9 August.

Sponge iron prices varied by INR 50-200/t. Prices increased in Punjab's Mandi Gobindgarh market by INR 200/t.

Billet prices moved in the range of INR 200-500/t. Prices fell by INR 500/t in Chennai, in south India.

Also, rebar (Fe 500) offers varied in the range of INR 200-500/t across regions. Prices declined in the Hyderabad market by INR 500/t.

Today the market noticed a see-saw trend where prices were in positive territory in central, northern and eastern regions. Demand for semi-finished was up in the second half of the day. Finished steel demand improved in central India. This was followed by a rebound in prices in the northern region, especially Punjab.

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SteelMint's price assessment (Region wise)