Indian DRI, billet and rebar update - 5 April

India's induction furnace (IF) steel market witnessed upward price trends. Meanwhile, offers across mills rose by INR 500/tonne (t) d-o-d today.

Sponge iron prices edged up by INR 100-400/t. Prices increased by INR 400/t in the Jharsuguda market.

Billets prices increased by INR 100-500/t. The Ramgarh market, on the other hand, saw an increase in prices by INR 500/t.

In addition, rebar (Fe 500) offers rose in the range of INR 100-500/t. Prices in Hyderabad were up by INR 500/t d-o-d.

Overall, market continued to witness an uptrend in semi-finished and finished long segment because of strong price trend across the region. Trades were moderate as no bulk bookings appeared from the buyers' side. Market participants are expecting an improvement in finished long sales in upcoming days, SteelMint noted.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)