Indian DRI, billet, rebar update - 24 June

• Moderate finished steel booking supports prices
  
  
• Semis prices increase, boosting buyer interest
  
  

India's induction furnace (IF) steel prices showed mixed trends d-o-d across regions on 24 June 2026.

Sponge iron prices increased by INR 100-250/t d-o-d, with the steepest rise of INR 250/t recorded in Durgapur, where prices settled at INR 23,650/t. Meanwhile, prices marginal drop of INR 100/t were seen in Chennai market to INR 25,900/t.

Billet prices rose by INR 150-300/t d-o-d across locations, with the highest increase of INR 300/t recorded in Mandi market, where prices reached INR 42,950/t. However, prices inched down by INR 200/t in Mumbai to INR 41,100/t.

Rebar (Fe 500) prices were up by INR 100/t d-o-d in most of the regions. However, prices decreased the steepest by INR 300/t in Mumbai market to INR 45,300/t.

Overall sales activity in the market remained limited d-o-d. Prices increased, driven primarily by moderate bookings received by manufacturers in the finished steel segment in today's trading session. Prices of semi-finished steel also showed a slight improvement, encouraging moderate bookings. However, if trading activity does not continue to improve, the price rise may not be sustained.

The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,700/t.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)