- Recent price hikes lead to subdued buying
- Most markets see price drops of INR 50-500/t
India’s induction furnace (IF) steel market witnessed dull sentiments today, and mills reduced offers by INR 50-500/tonne (t) d-o-d on 27 June 2025.
Sponge iron offers dropped by INR 100-300/t d-o-d, with a steep fall of INR 300/t in Raigarh. In Chennai, however, prices rose by INR 200/t.
Billet tags decreased by INR 100-500/t d-o-d across locations, except in Chennai, where prices moved up by INR 500/t.
Rebar (Fe 500) prices fluctuated by INR 100-200/t d-o-d.
Today, limited buying activities were observed amid the recent price hikes. Buyers were resistant to procuring material in bulk. Sales were dull, especially in the finished steel segment, though there were regional variations. As per participants, prices are likely to remain range-bound.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 14,700/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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