Indian DRI, billet and rebar update - 11 Jul
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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.
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BigMint's price assessment (Region wise)
