Indian DRI, billet and re-bar update - 28 Oct

India's induction furnace (IF) steel market witnessed dull sentiments today. Offers floated by the mills decreased in the range of INR 100-800/tonne (t) d-o-d on 28 October, 2022.

Sponge iron offers dropped by INR 200-700/t. The highest decline of INR 700/t was seen in the Jharsugda sponge market.

Moreover, billet offers edged down in the range of INR 200-800/t. The major price drop of INR 800/t was seen in Raigarh billet market.

Rebar (Fe 500) offers edged down in the range of INR 100-400/t across regions. Prices saw a major drop of INR 400/t in Mandi Gobindgarh, Punjab.

Overall, the market observed negative price trends and low-to-moderate trades.

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SteelMint's price assessment (Region wise)