Indian DRI, billet and re-bar update - 24' Aug

India’s induction furnace (IF) steel market witnessed positive price trends. Offers across mills rose by INR 1,500/tonne (t) d-o-d on 24 Aug’23.

Sponge iron prices edged up by INR 200-700/t. Prices rose by INR 700/t in the Jharsugda market.

Billet prices increased by INR 100-1,000/t. Raipur and Mumbai markets saw an increase of INR 1,000/t today.

In addition, rebar (Fe 500) offers rose in the range of INR 100-1,500/t. Prices in Raigarh were up by INR 1,500/t d-o-d.

The finished longs (rebar) steel market saw improved demand in central and eastern region, while demand was moderate in the remaining parts of the country. Also, trading has picked up which was dull for the last few days, sources informed SteelMint.

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SteelMint’s price assessment (Region wise)