Indian DRI, billet and rebar update - 8 Mar

India's induction furnace (IF) steel market observed minor fluctuation in prices across a few regions, while remaining stable in others on 8 March, 2024, as offers floated by the mills varied in the range of INR 50-300/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices varied in the range of INR 50-200/t. The Bellary market fell by INR 50/t. However, the Durgapur market rose by INR 200/t.

Billet prices increased in the range of INR 100-200/t. The sharpest rise was seen in the Raipur market.

Rebar (Fe 500) offers varied by INR 100-300/t. Jalna and Ahmedabad markets witnessed a drop of INR 200/t. Meanwhile, the Rourkela market increased by INR 300/t.

The overall trading activities remained dull today as minimal movement was observed in the spot market. Buyers opted for wait-and-watch mode and resorted to need-based buying amid the festive market environment.

Click here for rebar brand-wise details

BigMint's price assessment (Region wise)