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Indian DRI, billet, rebar update - 3 Dec

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BigMint Bureau

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3 Dec 2024, 17:57 IST

Indian DRI, billet, rebar update - 3 Dec

Inquiries remain low due varies location wise

Healthy momentum still absent, especially in finished

India's induction furnace (IF) steel sector witnessed an uptrend across commodities on 3 December 2024. Mills raised offers by INR 100-700/tonne (t) compared to the previous trading session.

Sponge iron prices increased by INR 200-400/t d-o-d, with the steepest hike seen in the Durgapur market.

Billet tags surged by INR 200-700/t d-o-d, with the highest rise observed in the Ahmedabad regions except in Chennai market where prices dropped by INR 500/t.

Rebar (Fe 500) offers climbed up by INR 200-500/t d-o-d, and the sharpest increase was recorded in the Jalna cluster.

Today, supportive market conditions led to a price increase. However, inquiries were low, as ample material had already been booked during yesterday's trading session. However, this varied location-wise. Additionally, as per participants, healthy trade momentum is yet to be seen, especially in the finished steel segment.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)