Indian DRI, billet and rebar update - 14 Nov

India's induction furnace (IF) steel market prices edged lower on 14 November, 2023, as offers floated by the mills dropped in the range of INR 100-500/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices fell in the range of INR 150-500/t, with the Durgapur market witnessing the sharpest fall.

Billet prices decreased in the range of INR 150-400/t. The steepest drop was seen in the Rourkela market.

Rebar (Fe 500) offers declined in the range of INR 100-300/t. The sharpest fall was seen in the Raigarh market.

The market remained majorly silent today owing to the festive holidays. Participants expect slow movement in the spot market in the near term.

Click here for re-bar brand wise details.

SteelMint's price assessment (Region wise)