Indian DRI, billet and rebar update - 17 April

India's induction furnace (IF) steel market saw positive price trends. Meanwhile, offers by mills rose by INR 500/tonne (t) d-o-d on 17 April, 2023.

Sponge iron prices edged up by INR 50-500/t. Prices rose by INR 500/t in the Durgapur sponge iron market.

Billet prices increased by INR 100-450/t. The market in Raigarh and Durgapur saw an increase of INR 450/t today.

Rebar (Fe 500) offers rose in the range of INR 100-500/t. Prices in Delhi rose by INR 500/t d-o-d.

Overall, the market continued to witness an uptrend in the semi-finished and finished long segment because of strong price trends across regions. Trades were moderate as no bulk bookings appeared from the buyers' side. Market participants are expecting an improvement in finished long sales in the coming days, SteelMint noted.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)