Indian DRI, billet & rebar update- 13th Aug

Indian steel market continued positive trend & the prices of sponge iron further increased by INR 200-400/t & billet prices by INR 300-700/t, d-o-d in major locations.

Also, on daily basis, trades rebar prices moved up by INR 100-500/t & melting scrap (HMS) by INR 200-600/t across major markets. However with rising prices, conversion spread (margins) of standalone rolling-mills & furnaces remained low, which seems to support price range as there are limited scope for fall in