Indian DRI, billet, rebar update - 5 Dec

India's induction furnace (IF) steel market witnessed rise in prices today, as offers floated by the mills increased in the range of INR 100-1,100/tonne d-o-d on 5 December, 2024.

Sponge iron offers increased by INR 200-500/t . The highest price rise of INR 500/t was witnessed in the Hyderabad and Bellary markets .

Moreover, billet offers also edged up by INR 200-700/t.

Rebar (Fe 500) offers increased in the range of INR 100-1,100/t across regions, with the sharpest increase of INR 1,100/t recorded in the Delhi region.

The steel market saw active demand in all the regions. Buyers actively procured materials at increased prices owing to good enquiries in sponge, billet as well as finished steel. In view of the ongoing market scenario, participants are expecting prices to remain supported at current levels.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)