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Indian DRI, billet, rebar update - 22 Jan

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BigMint Bureau

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22 Jan 2025, 18:04 IST

Indian DRI, billet, rebar update - 22 Jan

Liquidity crunch, poor end-user demand impact trades

Suppliers face slow lifting of previously booked materials

India's induction furnace (IF) steel prices declined d-o-d on 22 January 2025. Across markets, mills reduced their offers by INR 50-600/tonne (t) compared to the previous trading session.

Sponge iron prices dipped by INR 50-200/t d-o-d, with the steepest fall in the Raigarh region.

Billet tags fell by INR 50-300/t d-o-d, with the highest drop of INR 200/t recorded in the Ahemdabad market.

Rebar (Fe 500) offers decreased by INR 100-600/t d-o-d, with the sharpest decline of INR 600/t observed in the Ahmedabad cluster.

Need-based buying was observed today as well. This is because the market has been facing a challenging time over the past couple of days. Liquidity issues and lack of demand from end-users have significantly impacted trading volumes. Additionally, the slow lifting of previously booked materials has weighed on sentiments.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)