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Indian DRI, billet, rebar update - 12 Nov

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BigMint Bureau

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12 Nov 2024, 17:58 IST

Indian DRI, billet, rebar update - 12 Nov

India's induction furnace (IF) steel prices declined on 12 November 2024. Offers announced by the mills fell by INR 50-500/tonne (t) d-o-d across markets compared to the previous trading session.

Sponge iron prices decreased by INR 100-500/t and the major price fell in Durgapur market.

Billet prices edged down by INR 50-200/t, with the sharpest decrease seen in the Mumbai and Jalna market.

Rebar (Fe 500) offers declined by INR 100-200/t across markets.

Trading activity in the spot market continued at a slow pace today. Buyers remained inactive at current price levels which led to minimal trades in the spot market. According to participants, the market is expected to move within a similar range.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)