Indian DRI, billet, rebar update - 3 June

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

India's induction furnace (IF) steel prices showed mixed trends d-o-d across regions on 3 June 2026.

Sponge iron prices increased by INR 50-200/t d-o-d, with the steepest rise of INR 200/t recorded in Raipur and Jharsuguda locations, where prices settled at INR 24,450/t and INR 23,500/t.

Billet prices rose by INR 100-400/t d-o-d across locations, with the highest increase of INR 400/t recorded in Ahmedabad and Mandi markets, where prices reached INR 43,200/t in both the locations. However, prices inched down by INR 100/t in Chennai and Mumbai to INR 40,900/t and INR 41,900/t, respectively.

Rebar (Fe 500) prices were up by INR 100-300/t d-o-d. Prices increased the steepest by INR 300/t in Mandi to INR 48,000/t.

Overall sales activity in the market remained limited d-o-d. Prices increased, driven primarily by moderate bookingsreceived by manufacturers in the finished steel segment in yesterday'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 14,300/t.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)