Indian DRI, billet and rebar update - 15 Jan

India's induction furnace (IF) steel market prices witnessed a minor correction on 15 January, 2023, across regions as offers floated by the mills declined in the range of INR 50-200/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices dipped in the range of INR 50-150/t. The sharpest fall was seen in the Raigarh market.

Billet prices fell in the range of INR 50-200/, with the steepest fall seen in the Mandi(Gobindgarh) and Durgapur markets.

Rebar (Fe 500) offers dropped in the range of INR 100-200/t, with the sharpest drop seen in the Delhi NCR.

Subdued buying interest prevailed in the market today owing to the festive mood due to Makar Sankranti. Participants reported need-based material procurement as prices largely remained range-bound.

Click here for re-bar brand-wise details.

SteelMint's price assessment (Region wise)