Indian DRI, billet and rebar update - 28 March
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India's induction furnace (IF) steel market prices followed an upward movement on 28 March, 2024, as offers floated by the mills increased in the range of INR 50-300/tonne (t) d-o-d compared to the previous trading session.
Sponge iron prices rose in the range of INR 100-250/t, with the Raigarh market witnessing the sharpest increase.
Billet prices increased in the range of INR 50-300/t.
Rebar (Fe 500) offers increased in the range of INR 100-300/t. The Rourkela market and the Mandi market witnessed the sharpest rise.
Limited trades were observed in the market today as need-based procurement of material were reported by the participants. Trading activity were slow as compared to yesterday's trading session. Participants are anticipating prices to remain volatile in the near term.
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BigMint's price assessment (Region wise)