Indian DRI, billet and rebar update - 18 Oct
India’s induction furnace (IF) steel market witnessed a mixed price trend on 18 October, 2023, across regions as offers floated by the mills varied in the range...
India's induction furnace (IF) steel market witnessed a mixed price trend on 18 October, 2023, 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 50-300/t. The Bellary market declined by INR 300/t, meanwhile, a rise of INR 200/t was seen in Odisha's Jharsuguda market.
Billet prices varied in the range of INR 100-500/t. The Chennai market dropped by INR 500/t, meanwhile, a rise of INR 400/t was seen in the Raigarh market.
Rebar (Fe 500) offers dropped in the range of INR 100-300/t, with the sharpest fall seen in the Raipur and Mumbai markets.
Limited trade was observed in the spot market today as buyers opted for wait-and-watch mode due to a lack of clarity in market trends.
Click here for re-bar brand wise details.
