Indian DRI, billet and rebar update - 11 Jul

India's induction furnace (IF) steel market witnessed a mixed trend in prices today. Offers floated by the mills fluctuated in the range of INR 50-600/tonne (t) d-o-d on 11 July, 2024.

Sponge iron offers varied in the range of INR 50-600/t. The highest increase of INR 600/t was seen in the Durgapur market, while Bellary witnessed a drop of INR 300/t d-o-d.

Moreover, billet offers fluctuated in the range of INR 50-400/t. The Mandi market witnessed the highest increase of INR 400/t, while prices dropped INR 200/t in the Jalna and Hyderabad markets.

Rebar (Fe 500) offers edged down by INR 200-400/t across regions. Prices fell by INR 400/t in Rourkela.

The market saw a mixed price trend and trading sentiments varied across locations. A marginal improvement in raw material buying activities was seen in some locations but the finished steel market lacked momentum. Prices may stay rangebound in the near term.

Click here for re-bar brand wise details

BigMint's price assessment (Region wise)