Indian DRI, billet and re-bar update - 20 Sep

India's induction furnace (IF) steel market witnessed price corrections across product categories. Offers from the medium-sized mills fell by up to INR 1,000/tonne (t) d-o-d, on 20 September, 2022 amid limited buying except in central region as sellers were under pressure to liquidate inventories.

Sponge iron offers dropped by INR 250-500/t. The highest decline was seen in the Jharsugda market.

Billet prices dropped in the range of INR 250-550/t across regions with the maximum fall of INR 550/t seen in Mandi Gobindgarh.

Also, rebar (Fe 500) offers decreased sharply in the range of INR 100-1,000/t across regions. The highest drop was seen in Delhi/NCR market.

The market saw a significant decline in offers in all regions amid limited buying except in central region. Sellers are under pressure to liquidate inventories by reducing offers.

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SteelMint's price assement(Region wise)