Indian DRI, billet, rebar update - 23 Dec

• Semis prices edge up amid hike in finished tags
  
  
• Need-based buying keeps trade volumes moderate

  
  
  

India's induction furnace (IF) steel market witnessed mixed trends across commodities today. Mills' offers varied by up to INR 500/tonne (t) compared to the previous trading session.

Sponge iron prices fluctuated in the range of INR 100-350/t d-o-d. The Durgapur and Raipur markets witnessed a rise of INR 150/t. However, a drop of INR 350/t was seen in Hyderabad.

Billet tags varied in the range of INR 100-550/t d-o-d, with the sharpest hike seen in the Durgapur market. Meanwhile, offers dropped by INR 200/t in Rourkela.

Rebar (Fe 500) offers also fluctuated by INR 100-300/t d-o-d. Prices in Ahmedabad climbed up by INR 300/t.

Overall, offers for semi-finished steel edged up amid an increase in finished steel tags in various regions. However, only need-based buying was observed in the market today. Consequently, trade volumes were moderate, as buyers remained cautious about bulk bookings.

Click here for rebar brand-wise details

BigMint's price assessment (Region wise)