Indian DRI, billet and rebar update - 29 March

India's induction furnace (IF) steel market prices saw a mixed response by the mills in the range of INR 100-300/tonne (t) d-o-d compared to the previous trading session.

Sponge iron prices decreased in the range of INR 100-150/t, with the Raigarh market witnessing the highest drop.

Billet prices varied in the range of INR 100-300/t. The sharpest drop was seen in Durgapur market.

Rebar (Fe 500) offers fluctuated in the range of INR 100-200/t. The sharpest hike and drop were noted in Bangalore and Raigarh markets respectively by INR 200/t.

The overall market witnessed subdued trading activities d-o-d. Buyers were in wait-and-watch mode to procure material today as observed at current price levels. Participants are expecting prices will be in fluctuating trend in the near term.

Click here for re-bar brand wise details

BigMint's price assessment (Region wise)