Indian DRI, billet and rebar update - 20 Jan

India's induction furnace (IF) steel market noticed mixed price trends and offers varied in the range of INR 50-500/tonne (t) d-o-d on 20 January, 2023.

Sponge iron prices fluctuated in the range of INR 100-250/t. Meanwhile, a major price hike of INR 250/t was observed in southern region's Bellary market.

Moreover, billets offers varied in the range of INR 100-500/t. A major price fall of INR 450/t was seen in Raigarh's billets market. However, a price hike of INR 500/t was noticed in Hyderabad markets.

Also, rebars (Fe 500) prices fluctuated in the range of INR 100-500/t across the regions. A price hike of INR 500/t was seen in Hyderabad's market. However, a price drop of INR 200/t was noticed in Raigarh and Durgapur markets.

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

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)