Indian DRI, billet and re-bar update – 14 Oct

India’s induction furnace (IF) steel market witnessed mixed price trends. Offers across mills  varied in the range of INR 50- 500/tonne (t) d-o-d, on 14 October, 2022.

Sponge iron prices fluctuated by INR 50-150/t. Prices witnessed a rise in Durgapur’s sponge iron market by INR 150/t.

Billet prices varied in the range of INR 50-500/t. A fall of INR 500/t was seen in jalna’s billet market.

Also, rebar (Fe 500) offers varied in the range of INR 100-500/t across regions. Prices edged down in Hyderabad’s market by INR 500/t.

Trades were limited in semi-finish and finished long segments as no major enquiries were raised by buyers for bulk bookings. Sellers tried to raise offers initially but demand was low throughout the day which kept prices volatile.