Indian DRI, billet and rebar update - 20 March

India's induction furnace (IF) steel market prices followed a mixed trend on 20 March, 2024, as offers floated by the mills fluctuated in the range of INR 100-400/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices varied in the range of INR 100-200/t. The Bellary and Hyderabad markets witnessed a drop of INR 100/t while Odisha's Jharsuguda market increased by INR 200/t.

Billet prices also varied in the range of INR 100-300/t. The Mumbai market witnessed a fall of INR 200/t while Raigarh market increased by INR 300/t.

Rebar (Fe 500) prices fluctated in the range of INR 100-400/t. The Raipur market witnessed a drop of INR 200/t while the Muzaffarnagar market increased by INR 400/t.

Average trades were observed in the market today as need based procurement of material were reported by the participants. Market participants are expecting prices to remain fluctuating in near term.

Click here for re-bar brand wise details

BigMint's price assessment (Region wise)