Indian DRI, billet and rebar update - 13 Oct
India’s induction furnace (IF) steel market prices continued moving in a downward direction trend on 13 October, 2023, across regions as offers floated by the m...
India's induction furnace (IF) steel market prices continued moving in a downward direction trend on 13 October, 2023, across regions as offers floated by the mills dropped in the range of INR 100-700/tonne (t) d-o-d compared to the previous trading session.
Sponge iron prices fell in the range of INR 100-500/t. The Durgapur and Raipur markets witnessed the sharpest fall.
Billet prices declined in the range of INR 200-500/t across all the regions. The highest fall was seen in the Hyderabad market.
Rebar (Fe 500) offers declined in the range of INR 100-700/t with the Raigarh market witnessing the steepest fall.
Moderate bookings were observed in some regions while in others, it continued to remain dull. Participants remain cautious as the market trend is unclear at the moment.
Click here for re-bar brand wise details.
