Indian DRI, billet, rebar update - 4 Dec

India's induction furnace (IF) steel market witnessed an uptick in prices today, as offers floated by the mills increased in the range of INR 100-700/tonne d-o-d on 4 December, 2024.

Sponge iron offers increased by INR 100-400/t . The highest price rise was witnessed in the Ramgarh market which was INR 400/t.

Moreover, billet offers also edged up by INR 100-300/t.

Rebar (Fe 500) offers increased in the range of INR 100-700/t across regions, with the sharpest increase of INR 700/t recorded in the Rourkela region.

A cautious improvement in market sentiment was observed today, with sponge iron prices showing stability in a few regions even as billet prices inched up slightly on the back of improved inquiries. In the finished long segment, rebar prices remained firm, supported by increased buying activities by traders.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)