Indian DRI, billet, rebar update - 17 Jun

• Buyers stay on sidelines, engage in need-based purchases
  
  
• Manufacturers reduce offers due to lack of fresh bookings
  
  

India's induction furnace (IF) steel prices shown mixed trend d-o-d across regions on 17 June 2026.

Sponge iron prices fluctuated by INR 50-100/t d-o-d, with the sharpest decline of INR 100/t recorded in Chennai, where prices settled at INR 26,200/t. Meanwhile, prices rose INR 100/t to INR 23,000/t and INR 26,000/t in Jharsuguda and Hyderabad locations respectively.

Billet prices varied by INR 50-200/t d-o-d across locations, with the highest decrease of INR 200/t recorded in Ahmedabad, where prices reached INR 42,500/t. However, marginal rise by INR 100/t were seen in Raigarh and Mandi Gobindgarh regions and stood at INR 38,450/t and INR 42,900/t respectively.

Rebar (Fe 500) prices remain unchanged in most of the locations except in few markets like Mandi Gobindgarh and Ahmedabad where prices dropped by INR 100/t to INR 47,500/t and INR 47,100/t respectively.

Today, buying activity remained dull. Sluggish demand and lack of fresh booking orders forced sellers to lower prices and offer discounts. In finished steel segment, mills reported sales at around 50-70% of production, while inventories across regions stood at 10-15 days though this varied from region to region. Such factor resisting buyers to procure raw material (Sponge iron and Billet) aggressively in the spot market.

The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,800/t.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)