Indian DRI, billet and rebar update - 5 Jan

India's induction furnace (IF) steel market witnessed a downward price trend on 5 January, 2024, as offers floated by the mills dipped in the range of INR 100-300/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices fell in the range of INR 150-300/t. The steepest fall was seen in the Raigarh market.

Billet prices dropped in the range of INR 100-300/t. The sharpest drop was seen in Mandi(Gobindgarh) and Durgapur markets.

Rebar (Fe 500) offers declined in the range of INR 100-300/t, with the Durgapur market witnessing the sharpest drop.

Due to the lacklustre market sentiment and need-based material procurement, trading activities remained dull today. Buyers remained majorly silent owing to a lack of clarity in the market direction.

Click here for re-bar brand-wise details.

SteelMint's price assessment (Region wise)