Indian DRI, billet, rebar update - 30 Jan

• Prices seen variation amid need-based buying
  
  
• Finished steel segment sees weak sales vary location wise
  
  

India's induction furnace (IF) steel prices sees variation d-o-d on 30 January 2025. Across markets, mills fluctuated their offers by INR 50-300/tonne (t) compared to the previous trading session.

Sponge iron prices varied by INR 50-300/t d-o-d, with the steepest decrease seen in the Durgapur by INR 200/t and major increased in Chennai by INR 300/t.

Billet tags decreased by INR 100-200/t d-o-d across the locations except in Rourkela and Mumbai where prices inch up by INR 50/t and 100/t respectively.

Rebar (Fe 500) offers fluctuated by INR 100-200/t d-o-d across the locations.

Today, need-based buying was seen across markets. Buyers showed a lack of interest in procuring raw materials due to weaker sales in the finished steel segment. However, this varied region-wise. As per market participants, prices are likely to remain range-bound.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)