Indian DRI, billet and rebar update -15 March

India's induction furnace (IF) steel market witnessed negative price trends, while offers across mills decreased by up to INR 700/tonne d-o-d on 15 March, 2023.

Sponge iron offers sharply fell by INR 100-450/t. The highest decline of INR 450/t was seen in Ramgarh and Jharsuguda sponge iron markets.

Billet prices dropped in the range of INR 100-700/t across regions with the maximum fall of INR 700/t seen in Mumbai billet market.

Also, rebars (Fe 500) offers fell by INR 100-500/t across regions. The highest drop of INR 500/t was seen in Durgapur and Raigarh.

Overall, the market observed negative price trends and low trades. Sources are expecting semis prices to remain under pressure on account of a slight rise in inventories of both semis and finished long steel producers.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)