Indian DRI, billet and rebar update - 4 Mar

India's induction furnace (IF) steel market witnessed an upward price trend on 4 March, 2024, across regions as offers floated by the mills rose in the range of INR 50-500/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices increased in the range of INR 50-250/t. The sharpest rise was seen in the Raipur market.

Billet prices increased in the range of INR 100-300/t. The sharpest rise was seen in the Raipur market.

Rebar (Fe 500) offers varied in the range of INR 100-500/t. Prices in the Raigarh market rose by INR 500/t. Meanwhile, the same declined by INR 100/t in the Mandi Gobindgarh market.

Moderate trades were observed in the spot market today amid positive price movement. As buying activity gained pace, sellers increased the offers in line with the state of the market.

Click here for rebar brand-wise details

BigMint's price assessment (Region wise)