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Indian DRI, billet, rebar update - 15 Nov

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BigMint Bureau

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15 Nov 2024, 18:03 IST

Indian DRI, billet, rebar update - 15 Nov

India's induction furnace (IF) steel sector witnessed a reduction in prices on 15 November 2024. Offers announced by the mills slid by INR 100-500/tonne (t) across markets compared to the previous trading session.

Sponge iron prices fell INR 100-450/t, with the steepest drop seen in the Bellary market.

Billet prices decreased by INR 100-300/t, with the sharpest decline seen in the Durgapur and Raipur markets.

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

Today again, market were sluggish in terms of trades and transactional activities. There was consistently lower buying activity in finished steel from the past couple of days which have led buyers for opt for a cautious approach. However, sellers are adjusting trade discounts in the spot market to escalate sales.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)