Indian DRI, billet and rebar update - 5 Jun
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India's induction furnace (IF) steel market prices dropped further on 5 June, 2024. Offers announced by the mills plunged in the range of INR 150-800/tonne (t) d-o-d compared to the previous trading session.
Sponge iron prices decreased by INR 150-650/t, with Ramgarh market witnessing the sharpest drop.
Billet prices fell by INR 200-600/t. The steepest fall was seen in Jalna market.
Rebar (Fe 500) offers declined in the range of INR 200-800/t. The sharpest decline was seen in Jalna market.
Trading activities continued to remain slow today as minimal movement was observed in the spot market. Buyers chose to stay on the sidelines amid unclear market trend as well as due to anticipation of price correction in the near-term.
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BigMint's price assessment (Region wise)