Indian DRI, billet and rebar update - 25 Jan

India's induction furnace (IF) steel market witnessed a negative price trend on 25 January, 2024, as offers floated by the mills decreased in the range of INR 50-400/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices varied in the range of INR 50-200/t. The Odisha's Jharsuguda market witnessed a price rise of INR 200/t. Meanwhile, the Durgapur market saw a price drop of INR 150/t.

Billet prices fell in the range of INR 50-400/t, with the Ramgarh market witnessing the steepest fall.

Rebar (Fe 500) offers declined in the range of INR 100-300/t. The sharpest decline was seen in the Delhi NCR.

Sentiments in the market continued to remain sluggish today which prompted sellers to lower their offers, although buyers chose to stay on the sidelines.

Click here for rebar brand-wise details.

BigMint's price assessment (Region wise)