Indian DRI, billet and rebar update - 27 July

India's induction furnace (IF) steel market witnessed downward trends in prices. Meanwhile, offers across mills decreased by up to INR 500/tonne d-o-d, on 27 July, 2023.

Sponge iron offers dropped by INR 50-100/t. The highest decline was seen in the Raigarh market.

Meanwhile, billet prices dropped in the range of INR 100-200/t across regions. The maximum fall was seen in Chennai billet market.

Also, rebar (Fe 500) offers edged down by INR 100-500/t across regions. The highest drop of INR 500/t was noticed in Hyderabad.

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.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)