Indian DRI, billet and rebar update - 29 Nov
India’s induction furnace (IF) steel market witnessed a mixed price trend on 29 November, 2023, as offers floated by the mills varied in the range of INR 100-50...
India's induction furnace (IF) steel market witnessed a mixed price trend on 29 November, 2023, as offers floated by the mills varied in the range of INR 100-500/tonne (t) d-o-d compared to the previous trading session.
Sponge iron prices rose slightly in the range of INR 100-350/t, with the Durgapur market witnessing the sharpest rise.
Billet prices varied in the range of INR 100-500/t. The Hyderabad market saw a rise of INR 500/t, while a price drop of INR 100/t was seen in the Mumbai market.
Rebar (Fe 500) offers varied by INR 100-500/t. The Hyderabad market increased by INR 500/t. Meanwhile, the Ahmedabad market witnessed a price decline of INR 200/t.
An improvement in market sentiment was observed as trading activities picked up a bit pace. However, buyers still remained cautious and resisted any bulk procurement of the material.
Click here for re-bar brand-wise details.
