Indian DRI, billet, and rebar update - 25 Oct

Prices in India's induction furnace (IF) steel market saw a mixed trend today, with offers by mills varying in the range of INR 50-500/tonne (t) d-o-d across markets compared to the previous trading session.

Sponge iron prices rose by INR 50-300/t except for Raigarh where a slight drop of INR 50/t was seen.

Billet prices fluctuated by INR 100-500/t. The prices in Hyderabad market rose by INR 500/t. Meanwhile, the same dropped by INR 200/t in Mandi Gobindgarh.

Rebar (Fe 500) offers varied in the range of INR 100-500/t.

Trading activities remained subdued on Friday amid constant fluctuations in prices. Suppliers raised offers in a few regions; however, they continued to offer attractive discounts. Buyers remained cautious and resorted to need-based purchases.

Click here for rebar brand-wise details

BigMint's price assessment (region wise)