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Indian DRI, billet, and rebar update - 12 Sep

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BigMint Bureau

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12 Sep 2024, 18:15 IST

Indian DRI, billet, and rebar update - 12 Sep

Prices in India's induction furnace (IF) steel market trended downward today. Mills announced offers reduced by INR 50-600/tonne (t) d-o-d across various markets compared to the previous trading session.

Sponge iron prices fluctuated by INR 50-150/t. Prices in the Ramgarh market increased by INR 100/t, while they fell by INR 150/t in the Raigarh market.

Billet prices declined by INR 50-600/t, with the sharpest drop occurring in the Odisha's Rourkela market.

Rebar (Fe 500) offers decreased by INR 100-400/t, with the most significant decline observed in the Delhi NCR.

Market sentiment remained lacklustre on Thursday. Sellers lowered offers further due to rising inventory pressures. However, buyers continued to purchase only on a need basis. According to sources, a similar trend is likely to persist in the short term.

Click here for rebar brand-wise details

BigMint's price assessment (region wise)