Indian DRI, billet, rebar update - 4 Jun

• Trading activity remains sluggish today
  
  
• Rising inventories push mills to reduce offers
  
  

India's induction furnace (IF) steel prices fell d-o-d across regions on 4 June 2026.

Sponge iron prices decreased by INR 50-250/t d-o-d, with the sharpest decline of INR 250/t recorded in Raigarh, where prices settled at INR 24,000/t.

Billet prices dropped by INR 150-350/t d-o-d across locations, with the highest decrease of INR 350/t recorded in Raigarh, where prices reached INR 38,400/t.

Rebar (Fe 500) prices dropped by INR 100-400/t d-o-d. Prices fell the steepest by INR 400/t in Hyderabad to INR 44,500/t.

Buying activity remained sluggish throughout the day. Weak sales and rising inventories in the finished steel segment (assessed at 10-15 days, varying by region) prompted manufacturers to lower their offers. These factors continued to discourage bulk bookings in semi-finished steel, including sponge iron and billets. Given the current market conditions, prices are likely to remain under pressure this week.

The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,400/t.

Click here for brand-wise rebar details

BigMint's price assessment (region-wise)