Indian DRI, billet, rebar update - 13 Nov

• Falling steel prices keep market subdued
  
  
• Minimal inquiries recorded in spot market
  
  

India's induction furnace (IF) steel segment witnessed a reduction in prices on 13 November 2024. Offers announced by mills slid by INR 100-700/tonne (t) across markets compared to the previous trading session.

Sponge iron prices fell INR 100-700/t, with the steepest drop in the Raigarh market.

Billet tags decreased by INR 200-700/t, with the sharpest decline seen in the Durgapur market.

Rebar (Fe 500) offers dived by INR 100-500/t. The steepest fall was observed in the Raigarh and Durgapur market.

Today, the market was subdued amid a drop in steel prices. Minimal buying inquiries were observed in the spot market, with buyers unwilling to commit to large orders at the prevailing values. Market participants expect prices to remain volatile in the near term.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)