Indian DRI, billet and rebar update - 17 Jan

India's induction furnace (IF) steel market saw dull response at prevailing offers. Prices decreased by INR 1,000/tonne d-o-d on 17 January, 2023.

Sponge iron offers dropped by INR 100-600/t. The highest decline was seen in the eastern region's Jharsuguda market.

Meanwhile, billets prices fell in the range of INR 100-500/t across regions with the maximum fall seen in Durgapur's billets market.

Also, rebars (Fe 500) offers edged down by INR 100-1,000/t across regions. The highest drop of INR 1,000/t was seen in Durgapur market.

Participants who were dry in terms of inventory, have started taking positions during the second half today. However, due to piled up stock with suppliers (manufacturers), the prices showed negative directions, SteelMint noted.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)