Indian DRI, billet and rebar update - 13 Dec

India's induction furnace (IF) steel market prices edged lower on 13 December, 2023, across regions as offers floated by the mills declined in the range of INR 100-450/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices dipped in the range of INR 100-250/t, with the Durgapur market witnessing the sharpest fall.

Billet prices fell in the range of INR 100-450/t across all the regions. The steepest fall was seen in Odisha's Rourkela market.

Rebar (Fe 500) offers dropped in the range of INR 100-400/t. The sharpest drop was seen in the Delhi and Jalna markets.

Sluggish market sentiment prevailed in the market today as buyers continued to stay on the sidelines. Participants await clarity in the direction amid volatility in prices and slow movement in the spot market.

Click here for re-bar brand-wise details.

SteelMint's price assessment (Region wise)