Indian DRI, billet, rebar update - 20 Nov

• Buyers stay away, awaiting further clarity on prices
  
  
• Sponge iron tags remain steady, but billet fluctuates
  
  

India's induction furnace (IF) steel prices remained relatively stable today, as offers floated by mills varied by INR 50-200/tonne d-o-d.

Sponge iron offers remained largely steady d-o-d, except in the Durgapur and Jharsuguda markets, which recorded a slight drop of INR 100/t.

Billet tags fluctuated in the range of INR 50-200/t. The steepest drop of INR 200/t was seen in the Chennai market, whereas the Rourkela and Ramgarh markets witnessed an increase of INR 100/t.

Additionally, rebar (Fe 500) prices edged down by INR 100-200/t across regions.

Slow trading activities were witnessed in the market today, as buyers remained inactive, waiting for further clarity on price trends. As per market participants, similar trends may continue in the near term.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)