Indian DRI, billet and rebar update - 15 Feb

India's induction furnace (IF) steel market saw positive price trends. On the other hand, offers across mills increased by INR 700/tonne d-o-d on 15 February, 2023.

Sponge iron prices edged up by INR 50-300/t. Prices saw a rise in Durgapur's sponge iron market by INR 300/t.

Billets prices increased in the range of INR 100-700/t. Prices rose by INR 700/t in Mandi, Gobindgarh market today.

In addition, rebars (Fe 500) offers rose in the range of INR 100-500/t. Prices remained elevated in Jalna market with INR 500/t.

Overall, market continued to witness an uptrend today in semi-finished and finished long segment because of strong price trend across the region. Active demand in finished steel products reported in central and eastern India. Market participants are expecting an improvement in finished long sales in upcoming days, SteelMint noted.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)