Indian DRI, billet, rebar update - 6 Jan

• Market turns cautious amid unclear price trends
  
  
• Sellers adjust trade discounts, prices drop d-o-d
  
  

India's induction furnace (IF) steel prices declined d-o-d on 6 January 2025. Mills reduced offers by INR 50-600/tonne (t) across markets compared to the previous trading session.

Sponge iron prices registered a decrease of INR 50-350/t d-o-d, and the steepest fall was observed in the Durgapur market.

Billet offers dropped INR 100-450/t d-o-d, with the sharpest decline seen in Durgapur market.

Rebar (Fe 500) tags fell by INR 100-600/t d-o-d; the highest drop was recorded in Durgapur.

Most market participants were quiet today, as buyers adopted a wait-and-watch mode due to unclear price trends. Sellers stated that they were adjusting trade discounts based on payment and delivery conditions. Market participants believe prices will remain volatile in the near future.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)