Indian DRI, billet and rebar update - 16 Nov

India's induction furnace (IF) steel market witnessed an uptick in prices on 16 November, 2023, as offers floated by the mills increased in the range of INR 50-700/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices increased in the range of INR 50-200/t. The highest rise was seen in Odisha's Jharsuguda market.

Billet prices increased in the range of INR 50-500/t, with the Hyderabad market witnessing the sharpest increase.

Rebar (Fe 500) offers rose in the range of INR 100-700/t. The Ahmedabad market saw the sharpest rise.

Trading activities remained dull today as buyers procured material as per need only and preferred to stay on the sidelines.

Click here for re-bar brand wise details.

SteelMint's price assessment (Region wise)