Indian DRI, billet and rebar update - 26 Apr

India's induction furnace (IF) steel prices witnessed a downtrend on 26 April, 2024, as offers released by the mills dropped in the range of INR 100-500/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices plunged in the range of INR 100-500/t, with the steepest decline seen in the Ramgarh market.

Billet prices fell in the range of INR 100-450/t. The sharpest fall was seen in the Rourkela market.

Rebar (Fe 500) offers dropped in the range of INR 100-400/t.

Limited trading activities were observed today as buyers resorted to need-based material procurement considering the current market scenario. As per market participants, prices may remain volatile in the near term.

Click here for rebar brand-wise details

BigMint's price assessment (Region wise)