Indian DRI, billet, rebar update - 19 Jun

• Elevated stocks, weak finished steel demand dampen sentiment
  
  
• Prices fall d-o-d as manufacturers reduce quotes, offer discounts
  
  

India's induction furnace (IF) steel prices fluctuated d-o-d across regions on 19 June 2026.

Sponge iron prices decreased by INR 50-150/t d-o-d, with the sharpest decline of INR 150/t recorded in Raigarh, where prices settled at INR 23,550/t. However, prices slight rose in Bellary location to INR 25,400/t.

Billet prices varied by INR 50-250/t d-o-d across locations, with the highest decrease of INR 250/t recorded in Raigarh, where prices reached INR 38,400/t. Meanwhile, prices rose marginally in Hyderabad location by INR 100/t to INR 40,300/t.

Rebar (Fe 500) prices remain unchanged d-o-d except in few markets where prices fluctuated marginally by INR 100/t. Prices dropped by INR 100/t in Ahmedabad, Raigarh to INR 41,300/t and rose by INR 100/t in Hyderabad to INR 43,800/t.

Today, trading activity was largely subdued. To boost sales, mills either offered trade discounts or reduced offers. Mill inventories were at around 12-15 days, though this varied region wise, indicating elevated stocks and weaker sales in the finished steel segment. Additionally, sluggish retail sector demand for finished steel weighed on market sentiment. Consequently, buyers resistedaggressively procuringsponge iron and billets as well. As per the current market scenario, prices are likely to remain weak.

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)