Indian DRI, billet and rebar update - 26 Feb

India's induction furnace (IF) steel market prices witnessed a mixed trend across regions today. Mills' offers fluctuated slightly by up to INR 200/tonne (t) compared to the previous trading session.

Sponge iron prices varied in the range of INR 50-200/t. The Durgapur market dropped by INR 100/t. Meanwhile, prices in the Raigarh market increased by INR 200/t.

Billet prices varied in the range of INR 50-200/t. The prices in the Chennai market increased by INR 200/t. Meanwhile, the prices in Mumbai and Jalna markets declined by INR 100/t.

Rebar (Fe 500) offers varied in the range of INR 100-200/t. The Jalna and Mandi (Gobindgarh) markets rose by INR 200/t. However, the Muzaffarnagar market fell by INR 100/t.

The overall trading activities remained dull today as minimal movement was observed in the spot market. Buyers chose to stay on the sidelines and resorted to need-based buying amid volatile price trend.

Click here for rebar brand-wise details.

BigMint's price assessment (Region wise)