Indian DRI, billet and rebar update - 21 March

India's induction furnace (IF) steel market witnessed a slight variation in prices on 21 March, 2024, as offers floated by the mills fluctuated in the range of INR 100-300/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices increased in the range of INR 100-300/t. The Ramgarh market witnessed the sharpest rise.

Billet prices increased in the range of INR 100-300/t. The sharpest increase was seen in the Ramgarh and Durgapur markets.

Rebar (Fe 500) offers varied in the range of INR 100-300/t. The Mumbai market dropped by INR 300/t while the Muzaffarnagar market witnessed an increase of INR 300/t.

Limited trades were observed in the market today as buyers continued to procure material on need based only. Participants in the market anticipate a range-bound price trend near term.

Click here for re-bar brand wise details

BigMint's price assessment (Region wise)