Indian DRI, billet, and rebar update - 13 Sep

India's induction furnace (IF) steel prices witnessed hiked on 13 September 2024. Offers announced by the mills increased by INR 100-300/tonne (t) d-o-d across markets, compared to the previous trading session.

Sponge iron prices rose by INR 100-300/t, with the highest rise seen in the Durgapur markets.

Billet prices rose by INR 100-300/t. The sharpest increase seen in Jalna and Rourkela market.

Rebar (Fe 500) offers increased by INR 100-300/t, and the steepest hike was noted in the Rourkela market.

Today, limited trades were noticed amid rising prices as the market tried to achieve stability. However, there is a lack of confidence in finished steel at the moment, and buyers are reluctant to acquire material in large quantities. Participants anticipate that the market will remain range-bound.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)