Indian DRI, billet and rebar update - 8 Apr

India's induction furnace (IF) steel market witnessed a mixed price trend on 8 April, 2024, across regions as offers floated by the mills varied in the range of INR 50-600/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices varied in the range of INR 50-150/t. Prices in Odisha's Jharsuguda market dropped by INR 150/t. Meanwhile, the prices in the Hyderabad market increased by INR 100/t.

Billet prices fluctuated in the range of INR 50-600/t. A price rise of INR 500/t was seen in the Goa market. Meanwhile, the Ahmedabad witnessed a price drop of INR 600/t.

Rebar (Fe 500) offers varied in the range of INR 100-400/t. The prices in the Durgapur market rose by INR 200/t. However, the prices in the Ahmedabad market fell by INR 400/t.

The overall trading activities remained dull today as minimal movement was observed in the spot market. Buyers chose to stay on the sidelines and resorted to need-based buying owing to a lack of clarity in market direction.

Click here for rebar brand-wise details

BigMint's price assessment (Region wise)