Indian DRI, billet and rebar update - 18 Sep

India's induction furnace (IF) steel market followed an upward trend in prices across commodities today. Mills' offers rose by up to INR 550/tonne (t) compared to the previous trading session.

Sponge iron prices increased in the range of INR 150-550/t with the highest rise seen in the Raigarh market.

Billet prices rose in the range of INR 100-400/t. The highest rise was seen in Ramgarh.

Rebar (Fe 500) offers also went up by INR 100-500/t with the Delhi and Jaipur markets witnessing the highest rise.

Even though steel prices witnessed a positive trend overall, buying activities remained slow across most regions due to high offer levels as well as the festive mood of the market.

Click here for re-bar brand wise details.