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Indian DRI, billet, and rebar update - 24 Oct

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BigMint Bureau

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24 Oct 2024, 18:10 IST

Indian DRI, billet, and rebar update - 24 Oct

India's induction furnace (IF) steel market witnessed a drop in prices on 24 October, 2024. Offers announced by the mills fell by INR 50-500/tonne (t) d-o-d across markets compared to the previous trading session.

Sponge iron prices registered a decline of INR 50-500/t with the sharpest drop seen in the Ramgarh market.

Billet prices decreased by INR 100-500/t with the steepest decline seen in Hyderabad.

Rebar (Fe 500) offers declined INR 100-500/t and the sharpest fall was witnessed in Rourkela.

Trading activity in the spot market remained slow today. Buyers remained inactive at current price levels which led to minimal trades in the spot market. As per market participants, similar sentiments may prevail in the near term.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)