Indian DRI, billet and rebar update - 27 Jun

India's induction furnace (IF) steel prices moved upward on 27 June, 2024. Offers announced by the mills went up by INR 50-1,000/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices rose by INR 200-700/t, with the highest rise seen in the Ramgarh market.

Billet prices increased by INR 150-700/t. The sharpest increase was seen in Odisha's Rourkela market.

Rebar (Fe 500) offers increased in the range of INR 200-1,000/t, with the sharpest increase seen in the Hyderabad market.

Limited trades were observed in the spot markets today. The suppliers had received moderate bookings yesterday due to which they had hiked offers. However, buyers resorted to need-based purchases at high prices as they waited for clarity on evolving market trends.

Click here for rebar brand-wise details

BigMint's price assessment (region wise)