Indian DRI, billet, rebar update - 12 May

• Moderate trade activities take place
  
  
• Mills lift offers by INR 100-1,000/t
  
  

India's induction furnace (IF) steel prices increased d-o-d on 12 May 2025. Across markets, mills raised their offers by INR 100-1,000/tonne (t) compared to the previous trading session.

Sponge iron prices rose by INR 150-500/t d-o-d, with the highest increase seen in the Raigarh market.

Billet tags increased by INR 300-600/t d-o-d, with the steepest hike seen in the Jalna and Mumbai region.

Rebar (Fe 500) offers climbed up by INR 100-1,000/t d-o-d, with the sharpest rise witnessed in the Hyderabad cluster.

Today, moderate trade activities were seen amid increasing offers. Trades took place at the mills' offers, although the level of buying varied location-wise. As per participants, prices are likely to hover in this range.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)