Indian DRI, billet, rebar update - 29 Jun

• Prices increase amid moderate bookings
  
  
• Hikes unlikely to sustain if buying slows
  
  

India's induction furnace (IF) steel prices increased d-o-d across regions on 29 June 2026.

Sponge iron prices increased by INR 100-350/t d-o-d across markets, with the sharpest rise of INR 350/t recorded in Durgapur, where prices settled at INR 23,900/t.

Billet prices witnessed an increase of INR 250-500/t d-o-d across major markets. The highest increase of INR 500/t was observed in Raigarh, Hyderabad, and Bhavnagar.

IF-route rebar (Fe 500) prices rose by INR 100-600/t d-o-d across major markets. Mandi Gobindgarh and Jaipur registered the highest gain of INR 600/t, with prices settling at INR 48,000/t and INR 46,300/t, respectively.

Trading activity improved slightly in most regions. Prices increased, driven primarily by moderate finished steel bookings received by manufacturers in Saturday's trading session. Prices of semi-finished steel also showed a slight improvement, encouraging moderate bookings. However, the price rise is unlikely to sustain if healthy trading activity does not continue. As per the current scenario, prices are likely to remain volatile this week, depending upon finished steel sales.

The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,950/t.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)