Indian DRI, billet and rebar update - 5 July

India's induction furnace (IF) steel market saw mixed trends in prices as offers floated by the mills varied in the range of INR 50-400/tonne (t) d-o-d on 5 July, 2023.

Sponge iron prices fluctuated by INR 50-150/t. Prices increased by INR 150/t in the Raigarh market.

Billet prices varied in the range of INR 100-200/t. Prices rose by INR 200/t in Raigarh. Similarly, a price drop of 400/t was noticed in Chennai and Raipur.

Also, rebar (Fe 500) offers plunged by INR 100-400/t across regions. A price hike of INR 200/t was seen in Raigarh. In contrast, a price drop of 400/t was noticed in Chennai and Raipur.

An active demand in finished steel products was reported in central and eastern India but at lower (firm) offers. Meanwhile, in other locations demand remained moderate. Hence, prices remained on the lower side, especially of rebars, in western and northern parts of the country.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)