Indian DRI, billet, rebar update - 13 Dec

India's induction furnace (IF) steel market witnessed a mixed response in prices on 13 December, 2024. Offers announced by the mills varied by INR 50-400/tonne (t) d-o-d across markets compared to the previous trading session.

Sponge iron prices registered a decline of INR 50-200/t d-o-d across regions.

Billet prices seesawed in the range of INR 100-250/t, with the sharpest fall seen in Rourkela and the sharpest rise of INR 250/t in Raipur and Raigarh.

Rebar (Fe 500) offers declined by INR 100-200/t; the steepest fall was witnessed in Raigarh and Delhi by INR 200/t. But in Mumbai prices increased by INR 400/t.

The market remained slow today, especially the finished steel segment, and only need-based buying was seen. Sellers either preferred to reduce their offers or adjust trade discounts depending upon payment and delivery terms. As per market participants, prices are likely to remain rangebound.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)