- IF-rebar prices drop w-o-w on dull demand
- Raw material prices on downward trajectory
Trade-level BF-rebar prices (distributor to dealer) edged down by INR 100/t ($1/t) w-o-w to INR 60,400/t ($650/t) exy-Mumbai, as per BigMint’s assessment on 17 April 2026. Prices have witnessed a slight downtrend in some markets, while in others prices remained stable. Buying activity slowed down this week in the trade channel as buyers adopted a cautious approach and opted for need-based buying.
Rebar project prices were workable in the range of INR 58,500-59,500/t ($630-641/t) on a landed basis, as per sources.
Update on projects
- National Buildings Construction Corporation (NBCC) and Housing and Urban Development Corporation (HUDCO) partnered to finance and execute housing and infrastructure projects, supporting urban development through combined expertise and funding.
- GHV Infra received INR 111 crore related-party work order for Sanpada carshed expansion, to be completed within 24 months.
- GHV Infra received INR 105 crore related-party work order for Kalwa carshed expansion, to be completed within 24 months timeframe.
- GHV Infra signed INR 1,250 crore EPC contract with APCO Infratech Private Limited for Jalna–Nanded expressway project, completion in 30 months.
- RailTel Corporation of India Ltd Bags INR 309 crore Tunnel Communication Project from Rail Vikas Nigam Limited (RVNL).
- RailTel Corporation of India Ltd Wins INR 255 crore Tunnel Systems Order from RVNL.
- Markolines secured INR 29.37 crore orders from Sports Authority of Andhra Pradesh for stadium upgradation and indoor hall construction in Vijayawada.
- SRM Contractors secured INR 168 crore contracts, including INR 128 crore NHAI project for landslide remediation on NH-03 in Himachal Pradesh.
- GHV Infra Projects Limited secured INR 815 crore EPC road construction contract from APCO Infratech in Maharashtra, with 30-month execution period.
- Rail Vikas Nigam Limited (RVNL) emerged as L1 bidder for East Coast Railway project worth INR 968 crore to construct major bridges under Bhadrak–Vizianagaram section, to be completed in three years.
Factors driving the market
1. IF rebar prices drop w-o-w: IF rebar trade prices showed volatility and a downward trend w-o-w across major markets this week. Trading activity remained subdued across regions. Demand stayed weak, particularly in finished and semi-finished steel, as buyers restricted purchases to immediate needs and adopted a cautious stance. Manufacturers lowered offers or provided discounts to liquidate material. Market participants expect continued price volatility due to weak booking orders in the finished segment. Mills had inventory levels of around 8-12 days. Induction furnace (IF) rebar trade prices in Mumbai rose by INR 1,800/t ($19/t) w-o-w to INR 52,100/t ($561/t) exw as of 17 April.
The blast furnace (BF) to IF rebar price spread in Mumbai widened w-o-w to around INR 8,000-8,500/t ($86-92/t) this week. IF rebar continues to dominate the Indian market, accounting for an estimated 65-70% share.
2. Raw material prices edge down w-o-w: Prices of major raw materials used in the BF route were range-bound w-o-w. BigMint’s Odisha iron ore fines (Fe 62%) index dropped by INR 50/t ($0.5/t) w-o-w at INR 5,750/t ($62/t) ex-mines as on 12 April. Iron ore prices in Odisha declined as increased supply and new offers from miners led to lower prices and bulk deals.
BigMint’s premium hard coking coal (PHCC) prices edged down by $1/t w-o-w to $258/t CNF Paradip.
Outlook
Prices of BF-rebar are anticipated to exhibit a downward trend in coming days owing to slow domestic demand.
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