Indian DRI, billet and rebar update - 17 Jul

India's induction furnace (IF) steel prices edged down further on 17 July, 2024. Offers announced by the mills decreased by INR 100-500/tonne (t) d-o-d across markets compared to the previous trading session.

Sponge iron prices varied slightly in the range of INR 100-150/t.

Billet prices decreased by INR 100-300/t across all the regions, except for Raigarh market where a slight rise in price of INR 50/t was noticed.

Rebar (Fe 500) offers dropped in the range of INR 100-500/t and the sharpest drop was seen in Odisha's Rourkela market.

Subdued buying interest prevailed in the market today. Buyers remained mostly silent amid lack of clarity in the market at the moment. Sellers were offering attractive discounts to liquidate material; however, trading activities remained dull.

Click here for rebar brand-wise details

BigMint's price assessment (region wise)