Indian DRI, billet and rebar update - 21 Dec
India’s induction furnace (IF) steel market prices edged lower on 21 December, 2023, across regions as offers floated by the mills declined in the range of INR ...
India's induction furnace (IF) steel market prices edged lower on 21 December, 2023, across regions as offers floated by the mills declined in the range of INR 100-800/tonne (t) d-o-d compared to the previous trading session.
Sponge iron prices dipped in the range of INR 150-800/t, with the Hyderabad market witnessing the sharpest fall.
Billet prices fell in the range of INR 200-500/t across all the regions. The sharpest drop was seen in the Hyderabad market.
Rebar (Fe 500) offers dropped in the range of INR 100-600/t. The sharpest drop was seen in the Jaipur market.
Sluggish sentiment prevailed in the market today as buyers continued to stay on the sidelines. Sellers also reported slow lifting of previously booked material along with minimal movement in the spot market at the moment, which varies from region to region.
Click here for re-bar brand-wise details.
