Indian DRI, billet, rebar update - 25 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 25 June 2026.

Sponge iron prices decreased by INR 50-100/t d-o-d, with the sharpest decline of INR 100/t recorded in Hyderabad where prices settled at INR 25,700/t.

Billet prices down by INR 50-100/t d-o-d across locations, with the highest decrease of INR 100/t recorded in Raigarh, Raipur and Ahmedabad locations where prices reached INR 38,300/t, INR 38,700/t andINR 41,700/t respectively.

Rebar (Fe 500) prices remain unchanged d-o-d in most of the markets except in Jalna and Raigarh locations where prices marginally corrected downside INR 200/t in both locations settled to INR 45,100/t and INR 40,800/t respectively.

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 14,650/t.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)