Indian DRI, billet and rebar update - 1 Feb

India's induction furnace (IF) steel market noticed upward trends in prices and offers rose by up to INR 700/tonne (t) d-o-d on 1 February, 2023.

Sponge iron prices increased in the range of INR 100-350/t across regions. Maximum hike of INR 350/t was seen in eastern region's Raigarh market.

Billet prices fluctuated in the range of INR 100-250/t and maximum rise of INR 250/t seen in Raigarh market.
Also, rebars (Fe 500) offers inched up in the range of INR 100-700/t with a major price rise of INR 700/t seen in Raigarh market.

Slow demand has been observed across semi-finished and finished long steel segments. Trading activities were moderate due to highly volatile sentiments and a bearish outlook. sources informed SteelMint.

Click here for re-bar brand wise details

SteelMint's price assement (Region wise)