Indian DRI, billet, rebar update - 15 May

• Prices rise on moderate sales in yesterday's session
  
  
• Cautious finished steel buying weighs on market
  
  

India's induction furnace (IF) steel prices rose d-o-d across regions on 15 May 2026.

Sponge iron prices increased by INR 50-300/t d-o-d, with the sharpest rise of INR 300/t recorded in Hyderabad and Bellary locations, where prices settled at INR 26,500/t and INR 25,800/t respectively.

Billet prices rose by INR 50-300/t d-o-d across locations, with the highest increase of INR 300/t recorded in Rourkela, where prices reached INR 39,600/t.

Rebar (Fe 500) prices varied by INR 100-300/t d-o-d.

Prices rose in most markets, supported by moderate sales in yesterday's trading session in many regions. However, buyers stayed away from aggressive purchases in the finished steel segment. Across commodities, manufacturers attempted either to keep offers stable or to raise them slightly. As per the current scenario, prices are likely to remain volatile this week, dependent on finished steel bookings.

The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,350/t.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)