Indian DRI, billet, rebar update - 16 Jan
...
- Market witnesses limited inquiries
- Finished steel demand remains muted
India's induction furnace (IF) steel prices exhibited mixed trends on 16 January 2025. Mills' offers fluctuated by INR 50-200/tonne (t) across markets compared to the previous trading session.
Sponge iron prices decreased by INR 50-150/t d-o-d across regions, except in the Raigarh, Durgapur and Ramgarh markets, which saw a slight increase of INR 50/t.
Billet offers fluctuated by INR 50-100/t d-o-d, with the sharpest fall of INR 100/t seen in the Raigarh and Ahmedabad clusters.
Rebar (Fe 500) tags declined by INR 100-200/t d-o-d. The highest drop was observed in Raipur, Raigarh, and Delhi markets. However, marginal increase by INR 200/t in Durgapur region.
Today, inquiries were limited across regions. As buyers expected further corrections, demand in the finished steel segment remained muted, reflecting cautious market behaviour amid the ongoing uncertainty in raw material prices. As per market participants, prices will remain volatile in the near term.
Click here for brand-wise rebar details
BigMint's price assessment (region-wise)
- Market witnesses limited inquiries