Indian DRI, billet and rebar update - 6 Oct
India’s induction furnace (IF) steel market prices maintained the momentum of the rising trend for the third consecutive day on 6 October, 2023, as offers float...
India's induction furnace (IF) steel market prices maintained the momentum of the rising trend for the third consecutive day on 6 October, 2023, as offers floated by the mills increased in the range of INR 100-700/tonne (t) d-o-d compared to the previous trading session.
Sponge iron prices rose in the range of INR 100-700/t with the Hyderabad market witnessing the sharpest rise.
Billet prices varied in the range of INR 100-500/t. The highest increase was seen in the Chennai market.
Rebar (Fe 500) offers surged in the range of INR 200-700/t. The highest increase was seen in Durgapur market.
Buying activities slowed down today owing to higher offer rates. Also, buyers had procured sufficient material in the last two days which further prompted such market sentiment.
Click here for re-bar brand wise details.
