Indian DRI, billet, rebar update - 17 Apr
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- Buyers stay on sidelines, refrain from bulk bookings
- Limited trading activities noticed d-o-d
India's induction furnace (IF) steel prices fell d-o-d across regions on 17 April 2026.
Sponge iron prices decreased in the range of INR 200-550/t d-o-d, with the sharpest decline of INR 550/t seen in Ramgarh, where prices settled at INR 26,750/t.
Billet prices dropped by INR 150-500/t d-o-d across locations, with the highest decrease of INR 500/t recorded in Ramgarh, where prices reached INR 41,500/t.
Rebar (Fe 500) prices dropped by INR 100-1,000/t d-o-d. Prices dropped by INR 1,000/t in Jalna to INR 52,000/t.
Market sentiment remained soft, driven by weak finished steel demand. Buyers have largely maintained a wait-and-watch approach over the last 8-10 days across commodities and regions.
Trading activity remained limited, with participants refraining from bulk bookings in sponge iron and billets and preferring to track finished steel price trends before committing to fresh procurement. On the other side, sellers reduced offers to stimulate sales activities.
Going by current market dynamics, market likely to remain volatile in coming days.
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)
