Indian DRI, billet and rebar update - 18 Jan

India's induction furnace (IF) steel market prices witnessed a mixed trend on 18 January, 2024, across regions as 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 100-150/t. The Durgapur market increased by INR 150/t. Meanwhile, the Raipur market declined by INR 100/t.

Billet prices varied in the range of INR 50-500/t across all the regions. Raipur and Mandi(Gobindgarh) markets increased by INR 200/t. On the other hand, the Chennai market fell by INR 500/t.

Rebar (Fe 500) offers varied in the range of INR 100-300/t. The Jalna market witnessed a drop of INR 300/t. However, the Durgapur market went up by INR 200/t.

Moderate trades were observed in the spot market today as buying activities gained a little pace. However, buyers avoided any bulk procurement at the moment as the market still lacks momentum.

Click here for re-bar brand-wise details.

SteelMint's price assessment (Region wise)