Indian DRI, billet and rebar update - 16 Feb

India's induction furnace (IF) steel market saw positive price trends, while offers across mills increased by up to INR 900/tonne d-o-d on 16 February, 2023.

Sponge iron prices increased by INR 250-700/t. Prices saw a hike in Bellary's sponge iron market by INR 700/t.

Billet prices increased in the range of INR 200-600/t. Prices rose by INR 600/t seen in Raigarh's billet market today.

Also, rebar (Fe 500) offers varied in the range of INR 300-900/t. Prices increased in Delhi and NCR market by INR 900/t.

Overall, market witnessed a sharp rise in semi-finished and finished long segments in all regions. Positive sentiments from the northern region helped sellers' to raise offers with moderate trades observed throughout the day. Market participants are anticipating that prices may remain on the positive side in upcoming days in terms of offers and sales, SteelMint noted.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)