Indian DRI, billet, rebar update - 7 Feb

• Trading activities remain dull today
  
  
• Prices likely to move in a narrow range
  
  

India's induction furnace (IF) steel prices declined d-o-d on 7 February 2025. Across markets, mills reduced their offers by INR 100-350/tonne (t) compared to the previous trading session.

Sponge iron prices dropped by INR 100-300/t d-o-d, with the steepest fall of INR 300/t seen in the Raigarh region.

Billet tags dropped in the range of INR 100-350/t d-o-d with the major decrease of INR 350/t seen in the Rourkela market.

Rebar (Fe 500) offers decreased by INR 100-300/t d-o-d across the markets except in Delhi market where prices rise by INR 300/t.

Today, market activities remained slow and a lower volume of transactions was heard concluded. Mills were giving discounts depending upon payment and delivery terms to liquidate their materials. As per participants, prices are likely to hover within a narrow range.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)