Indian DRI, billet, rebar update - 10 Jun

• Sponge iron, billet prices rise by up to INR 300/t d-o-d
  
  
• Moderate finished steel bookings yesterday prompt price rise
  
  

India's induction furnace (IF) steel prices showed mixed trends d-o-d across regions on 10 June 2026.

Sponge iron prices increased by INR 50-300/t d-o-d, with the sharpest hike of INR 300/t observed in Bellary, where prices settled at INR 25,500/t.

Billet prices increased by INR 100-300/t d-o-d across locations except in Mumbai and Chennai, where prices dropped by INR 50/t and INR 100/t and stood at INR 41,650/t and INR 41200/t respectively.

Rebar (Fe 500) prices showed mixed trends in the range of INR 100-200/t d-o-d.

Trade activity remained limited today despite a slight improvement. Prices increased, driven primarily by moderately strong finished steel bookings received by manufacturers in yesterday's trading session. Semi-finished steel prices also increased slightly, encouraging moderate bookings. However, sustained healthy trading activity is needed to lift prices further this week. As per the current scenario, prices are likely to remain volatile this week, dependent on finished steel sales.

The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,700/t.

Click here for brand-wise rebar details