Indian DRI, billet and rebar update - 8 Nov

India's induction furnace (IF) steel market followed mixed trends in prices on 8 November, 2023, as offers floated by the mills varied in the range of INR 100-800/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices increased slightly in the range of INR 100-200/t, with the Raipur market witnessing the highest rise.

Billet prices varied in the range of INR 100-250/t.

Rebar (Fe 500) offers varied in the range of INR 100-800/t. The Raipur market increased by INR 400/t, while a price drop of INR 800/t was seen in the Jalna market.

Subdued buying interest was prevalent today as movement in the spot market remained slow. Participants expect limited trading activities in the near term owing to the upcoming festive week.

Click here for re-bar brand wise details.

SteelMint's price assessment (Region wise)