Indian DRI, billet and rebar update - 21 July

India's induction furnace (IF) steel market noticed mixed trends in prices and offers varied in the range of INR 50-500/tonne (t) d-o-d on 21 July, 2023.

Sponge iron prices fluctuated in the range of INR 50-400/t across regions. A major hike of INR 400/t was seen in eastern region's Durgapur market.

Billet prices fluctuated in the range of INR 100-500/t with a maximum drop of INR 500/t seen in Mumbai and Hyderabad billet markets.

Also, rebar (Fe 500) offers varied in the range of INR 100-500/t with a major decline of INR 500/t seen in Mumbai.

Slow demand has been observed across semi-finished and finished long steel segments. Trading activities were moderate due to highly volatile sentiments and bearish outlook.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)