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Indian DRI, billet & rebar update- 12th Oct

Indian secondary steel market reported a hike of around INR 100-700/t today. As per SteelMint's assessment sponge iron prices have increased by INR 200-500/t, following which billet prices also moved up by INR 100-700/t in all the locations.
In the context of finished steel, the rebar market registered a price rise of INR 100-700/t with a major hike of INR 500-700/t in Chhattisgarh & Gujarat (central & western India). Industry participants stated, supportive demand on increased prices, however, participants are skeptical on sustainability of price hike considering volatility in


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