Indian DRI, billet and rebar update - 22 Feb

India's induction furnace (IF) steel market witnessed a mixed price trend on 22 February, 2024, 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 were assessed in the range of INR 50-200/t. The Raigarh market increased slightly by INR 50/t. Meanwhile, the Ramgarh and Raipur markets declined by INR 200/t.

Billet prices varied in the range of INR 50-200/t. The Ahmedabad market went up by INR 300/t. However, the Ramgarh market declined by INR 200/t.

Rebar (Fe 500) offers varied in the range of INR 100-300/t. Prices in the Bangalore market rose by INR 300/t. Meanwhile, prices declined by INR 200/t in the Muzaffarnagar market.

Trade activities were slow today due to dismal sentiment in the market. The lack of clarity in the market caused buyers to remain mostly mute.

Click here for rebar brand-wise details.

BigMint's price assessment (Region wise)