Indian DRI, billet, rebar update - 5 June

• Semi-finished steel prices show slight recovery
  
  
• Healthy trading activity needed for price stability
  
  

India's induction furnace (IF) steel prices showed mixed trends d-o-d across regions on 5 June 2026.

Sponge iron prices remain unchanged in most of locations d-o-d basis except in Durgapur market where price increased by INR 100/t and recorded to INR 23,750/t.

Billet prices varied by INR 50-350/t d-o-d across locations, with the highest increase of INR 350/t recorded in Raigarh market, where prices reached INR 38,750/t. However, prices fell by INR 250/t in to INR 41,650/t.

Rebar (Fe 500) prices fluctuated in most of the markets. Prices fell by INR 100/t in Raigarh and Hyderabad markets to INR 41,100/t and INR 44,400/t respectively. However, prices in Ahmedabad market inched up by INR 100/t to INR 48,100/t.

Overall sales activity in the market remained limited on a d-o-d basis. Prices increased in selective locations, supported by moderate bookings in the finished steel segment. Semi-finished steel prices also witnessed a slight improvement. However, buyers continued to procure cautiously in the spot market amid uncertainty over semi-finished steel price trends. If trading activity fails to improve, the current price uptick may not sustain.

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)