Indian DRI, billet, rebar update - 6 Dec

• Market volatility leads to moderate trade
  
  
• Semis, finished longs demand remains low
  
  

India's induction furnace (IF) steel market witnessed an uptrend on 6 December 2024, with mills raising offers by around INR 600/tonne (t) d-o-d.

Sponge iron prices increased by INR 200-600/t d-o-d, with the steepest hike in the Ramgarh market.

Billet tags rose INR 100-200/t d-o-d. The Jalna saw an increase of INR 200/t d-o-d today.

Additionally, rebar (Fe 500) offers surged by INR 100-500/t d-o-d. Prices in Durgapur were up by INR 500/t d-o-d.

Slow demand was observed across the semi-finished and finished long steel segments. However, trading activities were moderate due to highly volatile sentiments amid a prevailing bearish outlook.

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BigMint's price assessment (Region wise)