Indian DRI, billet, rebar update - 20 Jan

• Market sees need-based buying, limited inquiries
  
  
• Fluctuating raw materials prices put off buyers
  
  

India's induction furnace (IF) steel prices showed mixed trends d-o-d on 20 January 2025. Across markets, mills adjusted their offers by INR 100-500/tonne (t) compared to the previous trading session.

Sponge iron prices fluctuated by INR 50-200/t d-o-d across regions.

Billet tags showed variations by INR 100-500/t d-o-d, with the highest fall of INR 500/t recorded in the Hyderabad market.

Rebar (Fe 500) offers fluctuated by INR 100-400/t d-o-d. The highest drop of INR 400/t was observed in the Ahmedabad cluster.

The market was sluggish, as buyers chose to stay on the sidelines amid constant fluctuations in raw materials prices and high inventories, specifically in the finished segment. Only need-based procurement and inquiries were observed in the spot market. Prices are likely to remain volatile in the near term, as per market participants.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)