Indian DRI, billet and rebar update - 30 May

India's induction furnace (IF) steel market witnessed negative trends in prices. Offers across mills fell by up to INR 50-500/tonne d-o-d on 30 May, 2023.

Sponge iron prices fell by INR 50-250/t. Prices witnessed a fall in Hyderabad and Bellary sponge iron markets by INR 250/t.

Billet prices also dropped in the range of INR 50-200/t. Prices fell by INR 200/t in the Mumbai and Jalna billet markets today.

Also, rebar (Fe 500) offers dropped in the range of INR 100-500/t. Prices edged down in Hyderabad and Maharashtra's Jalna and Mumbai markets by INR 500/t.

The market saw volatility in semi-finished and finished long steel prices amidst moderate buying except in central and eastern regions, where demand for semis and finished steel products remained active and sufficient trades were reported by suppliers.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)