Indian DRI, billet and rebar update - 26 Aug

India's induction furnace (IF) steel prices witnessed hike in most of the locations except in few markets on 26 August, 2024. Offers announced by the mills fluctuated by INR 50-500/tonne (t) d-o-d across various markets compared to the previous trading session.

Sponge iron prices increased by INR 100-400/t across most regions with the sharpest rise seen in Raigarh market while slight price drop of INR 100/t was observed in the Bellary and Hyderabad markets.

Billet prices increased by INR 50-500/t, with the most significant rise observed in the Durgapur market.

Rebar (Fe 500) offers increased by INR 100-300/t across the regions. The sharpest hike noticed in Durgapur market.

Today, moderate trades were noticed amid rising prices vary location wise. Slight improvement in buying activities in raw material (Sponge iron and Billet) while in need based buying seen in finished steel owing to festive holiday. According to participants, the prices are expected to move in a range-bound.

Click here for rebar brand-wise details

BigMint's price assessment (Region wise)