Indian DRI, billet, rebar update - 21 Apr

• Trading activities improve in second half in Central region
  
  
• Market likely to remain volatile this week
  
  

India's induction furnace (IF) steel prices fell d-o-d across major regions on 21 April 2026.

Sponge iron prices exhibit mixed trends on d-o-d basis. Prices fell by INR 100-250/t d-o-d, with the sharpest decline of INR 250/t seen in Durgapur, where prices settled at INR 27,050/t. Meanwhile, prices increased by INR 50-150/t d-o-d in Central belt.

Billet prices also witnessed mix trend d-o-d. Prices rose by INR 50-500/t d-o-d, with the highest rise of INR 500/t recorded in Raipur, where prices reached INR 42,250/t.

Rebar (Fe 500) prices dropped by INR 100-800/t d-o-d across major locations. Prices dropped by INR 800/t in Bangalore. Meanwhile, Raipur was the only market which witnessed increase of INR 200/t d-o-d to INR 46,500/t.

Trading activity improved during the second half of todays session. Moderate buying was observed, supported by good sales for sponge iron, billets and Rebar particularly in few regions of the Central belt (Raipur and Raigarh). These rise was seen due to shortage of Billets in Raigarh market amid power cut in few mills located in Punjipathra.

Although, in the context of finished steel, buyers were hesitant to procure material aggressively in rest of the regions. Given the current market scenario, market is likely to volatile for these week, rest depends upon sales activities in finished steel segment.

The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 16,300/t.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)