Indian DRI, billet and re-bar update - 15 Dec.

India's induction furnace (IF) steel market followed a negative price trend across commodities today. Mills' offers dropped by up to INR 500/tonne (t) compared to the previous trading session.

Sponge iron prices decreased in the range of INR 50-200/t with the highest fall seen in the Hyderabad market.

Billet prices fell in the range of INR 100-500/t. The highest drop was seen in Hyderabad and Raigarh.

Rebar (Fe 500) offers also fell by INR 100-500/t with the Hyderabad market witnessing the highest drop.

Semi-finished and finished long steel prices continued on their downward trajectory today as the steel market in north India remained subdued. Spot trades were low as buyers shied away from bulk bookings. Market participants are expecting prices to remain volatile in the coming days.

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SteelMint's price assessment (Region wise)
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