Indian DRI, billet, and rebar update - 7 Oct

India's induction furnace (IF) steel prices witnessed mixed responses on Monday. Offers announced by the mills fluctuated by INR 50-800/tonne (t) d-o-d across markets compared to the previous trading session.

Sponge iron prices varied by INR 50-500/t. The highest drop was seen in the Jharsuguda market by INR 500/t while increase seen in Hyderabad by INR 100/t.

Billet prices fluctuated by INR 50-800/t. A major rise was seen in Mumbai market by INR 800/t. Meanwhile, the Hyderabad market dropped by INR 300/t.

Rebar (Fe 500) offers fluctuated in the range of INR 100-700/t. The highest price increase occurred in the Mumbai market, rising by INR 700/t, while the Mandi Gobindgarh market saw a decrease of INR 200/t.

Limited trades were observed in the market today amid volatile price trends. However, need-based buying was evident in the market from the buyers' end. According to participants, the market is expected to move within the same range.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)