Indian DRI, billet and rebar update - 11 Apr

India's induction furnace (IF) steel market observed an uptick in prices on 11 April, 2024, as offers floated by the mills increased in the range of INR 100-650/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices rose in the range of INR 100-350/t. The sharpest rise was seen in the Ramgarh market.

Billet prices increased in the range of INR 100-650/t, with the Ramgarh market witnessing the sharpest increase.

Rebar (Fe 500) offers varied by INR 100-300/t. The Jaipur market witnessed a drop of INR 100/t. Meanwhile, the Raipur and Durgapur markets increased by INR 300/t.

The overall trading activities remained dull today as minimal movement was observed in the spot market. Buyers opted for wait-and-watch mode and resorted to need-based buying amid Eid festivities.

Click here for rebar brand-wise details

BigMint's price assessment (Region wise)