Indian DRI, billet and rebar update - 27 Dec

India's induction furnace (IF) steel market witnessed a mixed price trend on 27 December, 2023, as offers floated by the mills varied in the range of INR 50-500/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices varied slightly in the range of INR 50-350/t. The Jharsuguda market rose by INR 150/t. However, the Bellary and Hyderabad markets fell by INR 350/t.

Billet prices varied in the range of INR 50-200/t. The Raigarh market saw a hike of INR 200/t. Meanwhile, a price drop of INR 200/t was seen in the Mumbai market.

Rebar (Fe 500) offers varied by INR 100-500/t. The Delhi NCR saw a price hike of INR 300/t. Meanwhile, a price drop of INR 500/t was noticed in Hyderabad.

Moderate trades were observed in the spot market today as participants became active. However, buyers steer clear of any bulk procurement owing to continuous fluctuations evident in the market trend.

Click here for re-bar brand-wise details.

SteelMint's price assessment (Region wise)