Indian DRI, billet, and rebar update - 11 Nov

Steel prices in India's induction furnace (IF) market saw a varied trend today, with offers by mills moving sideways in the range of INR 50-500/tonne (t) d-o-d across markets compared to the previous trading session.

Sponge iron prices varied by INR 50-400/t. Prices in the Durgapur market rose by INR 400/t. However, same saw a drop of INR 100/t in Odisha's Jharsuguda market.

Billet prices fluctuated by INR 100-500/t across regions.

Rebar (Fe 500) offers varied in the range of INR 100-500/t. Prices in Delhi NCR rose by INR 500/t. However, same dropped by INR 300/t in Jalna.

Limited buying enquiries were observed in the market today which led to sluggish market sentiment. Buyers seemed to be reluctant to procure material at such higher rates and are currently resorting to need-based buying till further clarity appears on market trends.

Click here for rebar brand-wise details

BigMint's price assessment (region wise)