Indian DRI, billet and rebar update - 19 Sep

India's induction furnace (IF) steel market saw mixed price trends on 19 September, 2023, as offers floated by the mills varied in the range of INR 50-300/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices increased slightly in the range of INR 50-300/t. The highest increase was seen in Odisha's Jharsuguda market.

Billet prices varied in the range of INR 100-200/t. The Jalna market saw a hike of INR 200/t, while a price drop of INR 150/t was seen in the Raipur and Raigarh markets.

Rebar (Fe 500) offers increased by INR 100-200/t, with Raipur and Mandi Gobindgarh witnessing the steepest hikes.

The market overall remained dull today due to Ganesh Chaturthi festival. Buyers opt to wait-and-watch, as the market remains unpredictable at the moment.

Click here for re-bar brand wise details.