Indian DRI, billet, rebar update - 18 Jun

• Marginal recovery notices in Raipur, Raigarh and Mandi markets
  
  
• Buyers focusing on need-based purchases
  
  

India's induction furnace (IF) steel prices showed mixed trends d-o-d across regions on 18 June 2026.

Sponge iron prices remain rose by INR 100-150/t d-o-d. Prices increase the most in Raipur and Durgapur location by INR 150/t to INR 24,200/t and INR 23,600/t respectively. Meanwhile in Chennai region prices slightly fell by INR 200/t to INR 26,000/t.

Billet prices increased by INR 50-200/t d-o-d across locations, with the highest rise of INR 200/t recorded in Raigarh and Hyderabad where prices settled INR 38,650/t and INR 40,200/t respectively. However, prices lowered in Ahmedabad region by INR 200/t to INR 42,300/t.

Rebar (Fe 500) prices moved up by INR 100-400/t d-o-d. Prices steepest rise in Raigarh market by INR 400/t to INR 41,400/t. Only in Chennai and Ahmedabad market, prices downside by INR 200/t and INR 300/t respectively.

Overall sales activity in the market remained limited on a d-o-d basis. Prices climbed up and marginal recovery in trading activity was observed in central and northern markets such as Raipur, Raigarh, and Mandi Gobindgarh. However, buying activity remained dull today, and in most other regions across India, mills provided discounts or reduced offers to boost sales. Mill inventory levels were at around 12-15 days across regions, indicating a buildup in stocks and reflecting weaker demand in the finished steel segment. As per the current scenario, prices are likely to remain on the weaker side this week across most regions.

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)