Indian DRI, billet and rebar update - 28 Nov

India's induction furnace (IF) steel prices fluctuated on 28 Nov, 2024. Offers announced by the mills fluctuated by INR 50-500/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices fluctuated by INR 50-100/t. The Raipur and Durgapur markets witnessed a price rise of INR 100/t.

Billet prices rose in the range of INR 100-350/t. The Rourkela market saw an increase of INR 350/t today.

Rebar (Fe 500) offers varied in the range of INR 100-500/t, with the sharpest decrease seen in the Mumbai market by INR 500/t. Meanwhile, prices increased in Raigarh market by INR 200/t.

Overall, the semi-finished steel market witnessed a slight hike in offers following the hike in finished steel offers in different regions. Only need-based buying was observed in the market and so trade volumes were moderate as buyers remained cautious about bulk bookings.

Click here for rebar brand-wise details

BigMint's price assessment (Region wise)