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

India's induction furnace (IF) steel market witnessed prices trending higher today. Offers floated by the mills increased by INR 50-500/tonne (t) d-o-d on 9 December, 2022.

Sponge iron prices rose in the range of INR 50-500/t. Prices increased in Hyderabad by INR 500/t.

Billet prices edged up by INR 50-300/t. The sharpest rise of INR 250/t was witnessed in Rourkela. However, a price drop of INR 300/t was seen in Mumbai market.

Also, rebar (Fe 500) offers inched up in the range of INR 200-400/t across regions. A sharp increase of INR 400/t was seen in the Raigarh market.

Overall, the semi finished market witnessed a slight rise in offers. Also, some price hike in witnessed finished across the regions . Trades were moderate throughout the day as buyers remained cautious for bulk booking.

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SteelMint's price assessment (Region wise)