Indian DRI, billet, rebar update - 13 Jan

• Sponge iron and rebar fluctuates; billet up
  
  
• Punjab sees need-based buying amid Lohri
  
  

India's induction furnace (IF) steel prices exhibited mixed trends on 13 January 2025. Mills' offers fluctuated by INR 50-300/tonne (t) across markets compared to the previous trading session.

Sponge iron prices fluctuated by INR 50-100/t d-o-d. The steepest hike was observed in the Jharsuguda market, while prices in Hyderabad and Bellary were down by INR 100/t.

Billet offers increased by INR 100-300/t d-o-d with the sharpest rise in Mandi by INR 300/t except in Jalna region where price slid by INR 100/t.

Rebar (Fe 500) tags varied by INR 100-200/t d-o-d; the highest drop of INR 200/t was recorded in the Ahmedabad and hike seen in Raigarh, Jalna and Delhi clusters.

The spot market experienced low trade activity today. Suppliers raised offers slightly in a few places, but these failed to gain acceptance, with large orders not being made at these levels. Additionally, due to the Lohri festival, customers in Punjab particularly opted for need-based purchases. According to participants, prices are expected to be range-bound in the short term.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)