Indian DRI, billet, rebar update - 15 Apr

• Buyers focus on need-based purchases
  
  
• Subdued trading activities recorded across regions
  
  

India's induction furnace (IF) steel prices edged down d-o-d across regions on 15 April 2026.

Sponge iron prices decreased in the range of INR 50-300/t d-o-d, with the sharpest decline of INR 300/t seen in Raigarh and Hyderabad, where prices settled at INR 25,700/t and INR 28,900/t respectively.

Billet prices dropped by INR 100-500/t d-o-d across locations, with the highest decrease of INR 500/t recorded in Ahmedabad and Mumbai, where prices reached INR 46,200/t and INR 45,800/t respectively.

Rebar (Fe 500) prices dropped by INR 100-600/t d-o-d. Prices dropped by INR 600/t in Rourkela to INR 47,700/t.

Today, trading activity remained dull 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 further volatile this week due to lower booking orders.

The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 16,000/t.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)