Indian DRI, billet, rebar update - 15 Apr

• IF mills reduce offers by INR 50-300/t
  
  
• Billet prices show mixed trends d-o-d
  
  

India's induction furnace (IF) steel market witnessed negative sentiments today, with mills reducing offers by INR 50-300/tonne (t) d-o-d on 15 April 2025.

Sponge iron prices decreased by INR 50-300/t d-o-d, with the sharpest fall of INR 300/t seen in the Chennai market.

Billet tags declined by INR 100-200/t d-o-d except in Hyderabad where these increased by INR 200/t.

Rebar (Fe 500) prices decreased by INR 100-300/t d-o-d. Prices dropped the deepest in Durgapur, by INR 300/t.

Limited buying activity was observed in the market, with buyers procuring material cautiously while awaiting further clarity on price trends. Manufacturers adjusted their trade-level prices based on order flows. Market participants expect prices to remain range-bound in the near term.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)