Indian DRI, billet and rebar update - 19 Apr

India's induction furnace (IF) steel market prices witnessed a downward movement on 19 April, 2024, as offers floated by the mills dipped in the range of INR 100-500/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices dropped in the range of INR 100-350/t, with the Raigarh market witnessing the sharpest decline.

Billet prices decreased in the range of INR 100-500/t. The steepest fall was seen in the Hyderabad market.

Rebar (Fe 500) offers declined in the range of INR 200-500/t. The sharpest decline was seen in the Raigarh and Rourkela markets.

Market sentiment continues to remain sluggish today which prompted sellers to slightly lower their offer rates. However, buyers opted to enter a wait-and-watch mode and remained silent.

Click here for rebar brand-wise details

BigMint's price assessment (Region wise)