Indian DRI, billet and rebar update - 1 March

India's induction furnace (IF) steel market followed a mixed price trend across commodities today. Mills' offers fluctuated by up to INR 500/tonne (t) compared to the previous trading session.

Sponge iron prices decreased in the range of INR 50-150/t with the highest fall seen in the Durgapur market.

Billet prices fell in the range of INR 100-500/t. Price rose by INR 500/t was seen in Hyderabad.

Rebar (Fe 500) offers also fell by INR 100-200/t with the Durgapur market witnessing the highest drop.

Semi-finished and finish long prices have continuously seen negative sentiments today as northern market remained again on the lower side. Spot trades were moderate as buyers kept away themselves from bulk bookings. BigMint noted.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)