Indian DRI, billet and rebar update - 13 March

India's induction furnace (IF) steel market prices witnessed marginal fluctuations today, as offers floated by the mills varied in the range of INR 50-400 /tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices varied in the range of INR 50-100/t.

Billet prices varied in the range of INR 50-300 /t. The Rourkela market witnessed a price hike of INR 250/t while in Mumbai and Hyderabad markets a drop of INR 300/t was noticed.

Rebar (Fe 500) offers decreased in the range of INR 100-400/t, with the Raigarh market witnessing the sharpest drop.

The overall trading activities remained dull today as minimal movement was observed in the spot market. Sellers were trying to maintain offers at higher levels. However, from the past few days market was at a slow pace so they were compelled to offer discount as per payment and delivery terms.

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SteelMint's price assessment (Region wise)