Indian DRI, billet and re-bar update - 8'Oct

India's induction furnace (IF) steel market witnessed mix price trends, Offers across mills fluctuated by INR 200- 600/tonne (t) d-o-d on 8 Oct, 2024.

Sponge iron prices edged up by INR 50-200/t. Prices rose by INR 200/t in the Durgapur market.

Billet prices increased by INR 100-400/t. The Raurkela market saw an increase of INR 400/t today.Meanwhile, prices decreased in Mumbai market by INR 200/t.

In addition, rebar (Fe 500) offers varied in the range of INR 200-600/t. Prices in Mujaffarnagar were up by INR 600/t d-o-d. However, a price drop of INR 200/t was seen in Hyderabad.

Overall, market continued to witness an upward trend today in semi-finished and finished long segment because of strong price trend across the region. Trades were moderate today as no bulk bookings appeared from the buyers' side. Market participants are expecting an improvement in finished long sales in coming days.

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BigMint's price assessment (Region wise)