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

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BigMint Bureau

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20 Dec 2024, 19:11 IST

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

India's induction furnace (IF) steel market followed mix price trend across commodities today. Mills' offers varried by up to INR 1,500/tonne (t) compared to the previous trading session.

Sponge iron prices fluctuated in the range of INR 100-500/t. The Hyderabad market witnessed a price rise of INR 500/t However, a price droped of INR 100/t was seen in Raigarh and Raipur.

Billet prices varied in the range of INR 100-1,500/t. with the sharpest hike seen in the Goa market.Meanwhile, offers droped by INR 250/t in Raipur.

Rebar (Fe 500) offers also fell by INR 100-200/t. Price in Hyderabad and Mandi, Gobindgarh climbed INR 200/t

Overall, market will notice a fall in terms of prices and offers for both semi-finished and finished long segment. Spot trades also dropped as sluggish trend from northern regions kept buyers away from bulk bookings. Participants are expecting that market will regain momentum once demand for finished steel will increase in upcoming days.

Click here for rebar brand-wise details

BigMint's price assessment (Region wise)