Indian DRI, billet and rebar update - 11 Jun

India's induction furnace (IF) steel market continued following the negative price trend on 11 June, 2024. Offers announced by the mills decreased in the range of INR 100-600/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices fell by INR 100-600/t, with Ramgarh market witnessing the sharpest fall.

Billet prices dropped by INR 300-500/t across the regions.

Rebar (Fe 500) offers plunged in the range of INR 100-600/t, with the Jalna market witnessing the steepest fall.

Limited trading activities were observed in the spot market today as need-based procurement was evident amid declining price trend. Buyers stayed cautious and steered clear of bulk procurement as market lacks clarity at the moment.

Click here for rebar brand-wise details

BigMint's price assessment (Region wise)