Indian DRI, billet and rebar update - 16 Feb

India's induction furnace (IF) steel market witnessed a mixed price trend on 16 February, 2024, as offers floated by the mills varied in the range of INR 50-300/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices fluctuated in the range of INR 50-250/t.

Billet prices varied in the range of INR 100-300/t.

Rebar (Fe 500) offers varied in the range of INR 100-300/t across a few regions, while remaining stable in others.

The trading activity in the spot market remained slow today as buyers chose to stay on the sidelines. Participants expect the market to remain volatile in the near term due to lack of clarity in the trend.

Click here for rebar brand-wise details.

BigMint's price assessment (Region wise)