Indian DRI, billet and rebar update - 27 Aug

India's induction furnace (IF) steel prices witnessed a variation on 27 August, 2024. Offers announced by the mills fluctuated by INR 100-300/tonne (t) d-o-d across markets compared to the previous trading session.

Sponge iron prices rose by INR 150-250/t across regions. The sharpest increased seen in Raipur market.

Billet prices increased by INR 100-300/t across regions except Durgapur and Chennai where prices dropped slightly by INR 200 and 100/t respectively.

Rebar (Fe 500) offers increased by INR 100-300/t across regions except Jalna where prices fell by INR 100/t.

Trading activity in the spot market was slow today amid slight hike in offers. Subdued buying interest was witnessed and sellers offered discounts depending on payment and delivery terms. According to sources, the market is expected to move within a narrow range.

Click here for rebar brand-wise details

BigMint's price assessment (Region wise)