Indian DRI, billet and rebar update - 15 Nov

India's induction furnace (IF) steel market witnessed a mixed trend in prices on 15 November, 2023, across regions. Offers floated by the mills varied in the range of INR 50-500/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices varied in the range of INR 50-350/t, with the Raigarh market witnessing the highest rise.

Billet prices varied in the range of INR 100-400/t. Odisha's Rourkela market increased by INR 400/t. Meanwhile, the Jalna market declined by INR 200/t.

Rebar (Fe 500) offers varied in the range of INR 100-500/t. The Hyderabad market saw an uptick of INR 500/t. Meanwhile, the Durgapur market dropped by INR 200/t.

Limited trades were observed as the festive holiday atmosphere still prevails in the market. Sellers in the sponge iron and billet segments hiked offers across various regions which nudged buying activities a little. However, buyers resorted to need-based material procurement and await clarity on the trend at the moment.

Click here for re-bar brand wise details.

SteelMint's price assessment (Region wise)