Indian DRI, billet and rebar update - 11 March

India's induction furnace (IF) steel market witnessed dull sentiments prevailing today, as offers floated by the mills decreased in the range of INR 50-400/tonne d-o-d on 11 March, 2024

Sponge iron offers dropped by INR 50-300/t. The highest decline of INR 300/t was seen in the Jharsuguda sponge market.

Moreover, billet offers edged down in the range of INR 100-300/t. The major price drop of INR 300/t was seen in Mandi Gobindgarh billet market.

Also, rebar (Fe 500) offers edged down in the range of INR 100-400/t across regions. Prices witnessed a major drop of INR 400/t in Muzaffarnagar market.

Overall, the market noticed a downfall in terms of offers and prices. Semi finished prices kept decreasing today as low demand was observed. Finish long prices also fell across the region.

Click here for re-bar brand wise details

SteelMint's price assement (Region wise)