Indian DRI, billet, rebar update - 21 Jan

• Volatile steel prices keep transaction volumes low
  
  
• Sellers adjusting trade discounts to encourage sales
  
  

India's induction furnace (IF) steel prices declined d-o-d on 21 January 2025. Across markets, mills reduced their offers by INR 50-200/tonne (t) compared to the previous trading session.

Sponge iron prices dipped by INR 50-150/t d-o-d across regions with the steepest fall in Durgapur region.

Billet tags fell by INR 50-200/t d-o-d, with the highest drop of INR 200/t recorded in the Mumbai market.

Rebar (Fe 500) offers decreased by INR 100-200/t d-o-d, with the sharpest decline of INR 200/t observed in the Raigarh cluster. However, prices inched up by INR 200/t d-o-d in Delhi.

Today's market was sluggish, and transaction volumes were low amid the volatility in steel prices. Procurement of finished steel has been steadily dipping over the past couple of days, which has led buyers to adopt a cautious approach. In response, sellers increased trade discounts to encourage sales. As per participants, similar conditions are expected in the near term.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)