Indian DRI, billet and rebar update - 4 April

India's induction furnace (IF) steel market saw mixed price trends as offers floated by mills varied in the range of INR 50-500/tonne (t) d-o-d on Tuesday.

Sponge iron prices fluctuated by INR 50-300/t. Prices increased by INR 200/t in the Raigarh market. However, a price hike of INR 300/t was noticed in Jharsuguda.

Billets prices varied in the range of INR 100-500/t. Prices fell by INR 500/t in Chennai's billets market today.

Also, rebars (Fe 500) offers rose by INR 100-300/t across regions. A price hike of INR 300/t was seen in Durgapur.

Finished longs (rebars) steel market saw an active demand especially in central and eastern regions. This led to surge in offers across products followed by price hike in the northern region during the first half today, SteelMint noted.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)