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Indian DRI, billet and re-bar update - 9 April.

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BigMint Bureau

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9 Apr 2024, 17:56 IST

Indian DRI, billet and re-bar update - 9 April.

India's induction furnace (IF) steel market witnessed a downward price trend today. Offers by the mills dropped by up to INR 500/tonne (t) compared to the previous trading session.

Sponge iron prices decreased in the range of INR 150-400/t, with the highest decline seen in the Hyderabad and Raipur markets.

Billet prices fell in the range of INR 100-500/t. The highest drop was seen in Raigarh.

Rebar (Fe 500) offers fell by INR 100-400/t with the Mujaffarnagar and Delhi markets witnessing the highest decline in prices.

Semi-finished and finished long steel prices witnessed negative sentiments today as the market in north India showed bearish signs. Spot trades were average at best as buyers shied away from bulk bookings.

Click here for re-bar brand wise details

SteelMint's price assessment (Region wise)