Indian DRI, billet and re-bar update - 21 Jul

India's induction furnace (IF) steel market witnessed downward price trends, while offers floated by mills of varying capacities dropped by up to INR 1,050/tonne d-o-d on 21 July, 2022.

Sponge iron and billet prices fell in the range of INR 50-1,050/t. Prices decreased by INR 1,050/t in Ramgarh's billet market.

Also, rebar (Fe 500) offers fell in the range of INR 200-800/t across regions. Prices in the Rourkela market fell by INR 800/t.

The semi-finished and finished long products markets observed sharp fall in prices today. Market participants remained cautious about new bookings amid weak demand for finished long steel, following significant decline in prices in north India, as per SteelMint assessment.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)