Indian DRI, billet and rebar update - 6 Aug

India's induction furnace (IF) steel market followed a downward price trend across commodities today. Mills' offers dropped by up to INR 400/tonne (t) compared to the previous trading session.

Sponge iron prices decreased in the range of INR 100-200/t with the highest fall seen in the Raipur market.

Billet prices fell in the range of INR 100-400/t. The highest drop was seen in Ramgarh.

Rebar (Fe 500) offers also fell by INR 100-400/t with the Raipur and Raigarh markets witnessing the highest drop.

Semi-finished and finished long prices continuously saw negative sentiments today as northern market once again remained on the lower side. Spot trades were moderate as buyers avoided bulk bookings, BigMint noted.

Click here for rebar brand-wise details

BigMint's price assessment (Region wise)