Indian DRI, billet and rebar update - 20 April

India's induction furnace (IF) steel market saw mixed price trends as offers floated by mills varied in the range of INR 50-400/tonne (t) d-o-d on 20 April, 2023.

Sponge iron prices fluctuated by INR 50-400/t. Prices increased by INR 200/t in the Durgapur market. However, a price decline of INR 400/t was observed in Jharsuguda.

Billet prices varied in the range of INR 100-200/t. Price rose by INR 200/t in Ramgarh today.

Rebar (Fe 500) offers fell by INR 100-300/t across regions. A price drop of INR 300/t was seen in Mujaffarnagar.

The overall market was volatile throughout the day and trading activities remained firm. Buying interest was low as offers remained slightly on the higher side.

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SteelMint's price assessment (Region wise)