Indian DRI, billet and rebar update - 29 Aug

India's induction furnace (IF) steel prices fluctuated on 29 Aug, 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 50-200/t. The Raigarh market witnessed a price rise of INR 200/t.

Billet prices rose in the range of INR 50-250/t. The Rourkela market saw an increase of INR 250/t today.

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