Indian DRI, billet and rebar update - 13 Jun

India's induction furnace (IF) steel market saw downward price trends as offers floated by the mills dropped in the range of INR 50-500/tonne (t) d-o-d on 13 June,2024.

Sponge iron prices decreased by INR 100-200/t, with Hyderabad and Jharsugda market witnessing the sharpest drop.

Billet prices fell by INR 50-500/t. The steepest fall was seen in Chennai and Hyderabad markets.

Rebar (Fe 500) offers declined in the range of INR 100-300/t. The sharpest decline was seen in Hyderabad and Durgapur.

Participants who were dry in terms of inventory, have started taking positions during the second half today. However, due to piled up stock with suppliers (manufactures), prices showed negative directions.

Click here for rebar brand-wise details

BigMint's price assessment (Region wise)