Indian DRI, billet and re-bar update - 7 Jun.

India's induction furnace (IF) steel market saw downward price trends today as offers floated by the mills dropped in the range of INR 100-700/tonne (t) d-o-d on 7 June, 2024.

Sponge iron prices decreased by INR 100-300/t, with Hyderabad and Bellary markets witnessing the sharpest drops.

Billet prices fell by INR 50-500/t. The steepest fall was seen in the Hyderabad market.

Rebar (Fe 500) offers declined by INR 200-700/t. The sharpest decline was seen in Chennai.

Active demand for finished steel products was seen in central and eastern India but at lower (but firm) offers. However, in other locations, it remained moderate. Hence, prices remained on the lower side, specially for rebars in eastern and northern parts.

Click here for rebar brand-wise details

BigMint's price assessment (Region wise)