Indian DRI, billet and rebar update - 26 Jun
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India's induction furnace (IF) steel prices showed mixed trends on 26 June, 2024. Offers announced by the mills varied by INR 50-1,000/tonne (t) d-o-d compared to the previous trading session.
Sponge iron prices remained stable across all the regions, except for Raigarh market where a minor price drop of INR 100/t was noticed.
Billet prices varied by INR 50-550/t. The prices in Raigarh market rose by INR 550/t. However, the same fell by INR 300/t in Chennai.
Rebar (Fe 500) offers dropped in the range of INR 100-1,000/t, with the steepest drop seen in the Hyderabad market.
Average trades were observed in the spot market today which vary from region-to-region. Buyers became active and procured material which led to increase in offers by sellers. As per the participants, such fluctuation in prices might continue in the near-term.
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BigMint's price assessment (region wise)