Indian DRI, billet, rebar update - 25 Nov

• Limited trades as buyers exercise caution
  
  
• Inventory glut, liquidity crunch hit market
  
  

India's induction furnace (IF) steel sector witnessed fall in prices on 25 November 2024. Offers announced by mills lowered by INR 100-600/tonne (t) across markets compared to the previous trading session.

Sponge iron prices fell by INR 100-250/t d-o-d, with the steepest drop seen in the Durgapur market.

Billet tags decreased by INR 200-600/t d-o-d. Again, the sharpest fall was recorded in the Jalna cluster.

Rebar (Fe 500) offers slid by INR 100-500/t d-o-d. The steepest decline was observed in the Hyderabad, Delhi and Rourkela regions.

The market remained primarily silent today, as buyers adopted a wait-and-watch approach amid a fall in steel prices. Sellers faced inventory pressure, and liquidity shortages impacted trade. Additionally, slow activity in the finished steel segment in recent days pushed sellers to either bring down prices or to adjust trade discounts.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)