Indian DRI, billet and rebar update - 4 Oct

India's induction furnace (IF) steel prices fluctuated on Friday, with mill offers varying by INR 100-800/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices also fluctuated by INR 200-500/t, with the Durgapur and Jharsugda markets experiencing an increase of INR 500/t.

Billet prices rose by INR 100-800/t, with the Mumabai market seeing the highest increase of INR 800/t today.

Rebar (Fe 500) offers varied between INR 200-800/t, with the sharpest increased in Muzaffarnagar and Mumabai markets.

Overall, the semi-finished steel market saw a slight increase in offers, following a rise in finished steel offers across different regions. Only need-based buying was observed, resulting in moderate trade volumes as buyers remained cautious about bulk bookings.

Click here for rebar brand-wise details

BigMint's price assessment (Region wise)