Indian DRI, billet, and rebar update - 19 Sep

India's induction furnace (IF) steel prices witnessed a surge on 19 September 2024, with mills raising their offers by INR 100-800/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices increased by INR 100-600/t. The highest rise was seen in the Durgapur market.

Billet prices surged by INR 150-800/t, with the sharpest upturn observed in the Ahmedabad market.

Rebar (Fe 500) offers shot up by INR 100-500/t. The steepest hike recorded in Raipur, Ahmedabad and Delhi market.

Minimal trading was witnessed in the spot market today amid the hike in offers. Yesterday saw moderate bookings, which led to mostly need-based buying being observed today d-o-d. According to market participants, prices are expected to stay range-bound.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)