Indian DRI, billet and rebar update - 12 Dec

India's induction furnace (IF) steel market witnessed a slight uptick in prices on 12 December, 2023, as offers floated by the mills increased in the range of INR 50-600/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices increased in the range of INR 50-450/t. The sharpest rise was seen in the Durgapur market.

Billet prices varied in the range of INR 50-300/t. The Durgapur and Ramgarh markets rose by INR 300/t. Meanwhile, the Jalna market fell by INR 200/t.

Rebar (Fe 500) offers varied in the range of INR 100-600/t. The Delhi market went up by INR 600/t. Meanwhile, the Durgapur market dropped by INR 200/t.

Buying activities remained dull today as buyers continued to stay on the sidelines owing to uncertainty in the market direction.

Click here for re-bar brand-wise details.

SteelMint's price assessment (Region wise)