Indian DRI, billet, and rebar update - 17 Oct

India's induction furnace (IF) steel segment witnessed a downtrend in prices on 17 October 2024. Offers announced by mills dropped by INR 50-400/tonne (t) d-o-d across markets compared to the previous trading session.

Sponge iron prices witnessed a fall of INR 50-300/t, with the steepest drop in the Jharsuguda market.

Billet prices decreased by INR 100-400/t, with the sharpest decrease again observed in the Raigarh market.

Rebar (Fe 500) offers declined by INR 200-400/t, and the steepest fall was noted in the Durgapur market.

In the spot market, trading occurred at a slow pace today. Buyers remained inactive at the current price levels, which led to minimal trades. According to participants, the market is expected to move within the same range in the near future.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)