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Indian DRI, billet and rebar update - 27 Feb

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BigMint Bureau

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27 Feb 2024, 18:09 IST

Indian DRI, billet and rebar update - 27 Feb

India's induction furnace (IF) steel market witnessed a minor correction in prices on 27 February, 2024, as offers floated by the mills decreased in the range of INR 50-250/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices dropped in the range of INR 50-200/t. The Bellary and Hyderabad markets witnessed the sharpest drop.

Billet prices fell in the range of INR 100-500/t. The sharpest drop was seen in the Hyderabad market.

Rebar (Fe 500) offers declined in the range of INR 100-250/t across regions, with the Hyderabad market witnessing the steepest fall.

Trade activities remained slow today owing to lacklustre market sentiment. Buyers opted to adopt a wait-and-watch policy amid declining prices and uncertain market trends.

Click here for rebar brand-wise details.

BigMint's price assessment (Region wise)