Indian DRI, billet, rebar update - 14 Apr

• Buyers focus on need-based purchases
  
  
• Sluggish trading activities seen across regions
  
  

India's induction furnace (IF) steel prices showed dull response d-o-d across regions on 14 April 2026.

Sponge iron prices decreased in the range of INR 100-600/t d-o-d, with the sharpest decline of INR 600/t seen in Raigarh, where prices settled at INR 26,000/t.

Billet prices dropped by INR 50-900/t d-o-d across locations, with the highest decrease of INR 900/t recorded in Raigarh, where prices reached INR 41,700/t.

Rebar (Fe 500) prices dropped by INR 100-600/t d-o-d. Prices dropped by INR 600/t in Raigarh to INR 46,800/t.

Today, trading activity remain sluggish across regions. Market momentum continued to remain subdued, particularly in finished and semi-finished steel as buyers focused on need-based purchases at prevailing prices. Buyers adopted a wait-and-watch approach. So manufacturers lowered their offers to stimulate sales.

Market participants anticipate volatility in prices this week due to lower booking orders especially in the finished segment.

The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 16,100/t.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)