Indian DRI, billet, and rebar update - 30 Sep

India's induction furnace (IF) steel prices surged on 30 September, 2024. Offers announced by the mills increased by INR 200-2,200/tonne (t) d-o-d across markets compared to the previous trading session.

Sponge iron prices rose by INR 300-1,000/t with the steepest hike in Jharsuguda market.

Billet prices increased by INR 300-1,300/t and the major increase in Hyderabad market.

Rebar (Fe 500) offers increased by INR 200-2,200/t with the sharpest rise in Hyderabad market.

Today, the market witnessed healthy trade activities amid surge in prices in Sponge iron, billet and finished steel. This was largely driven by strong demand as many manufacturers secured sufficient future booking orders. It is expected that prices would remain supported in the near term.

Click here for rebar brand-wise details

BigMint's price assessment (region-wise)