India’s induction furnace (IF) steel market witnessed moderate buying today, while mills varied offers by INR 50-500/tonne (t) d-o-d on 22 July 2025.
Sponge iron offers fluctuated by INR 50-100/t d-o-d, with a steep fall in the Ramgarh market of INR 100/t.
Billet tags varied by INR 50-500/t d-o-d across locations.
Rebar (Fe 500) tags moved down by INR 100-500/t d-o-d. Prices dropped the highest in Hyderabad, by INR 500/t. Only in Raipur market where prices inched up by INR 100/t.
Today, slight improvement in buying activity in the spot market which can vary region wise. Although, mills have sufficient stock and adjusting trade discounts to liquidate material specifically in finished segments. As per market participants, prices likely to rangebound in the near term.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was INR 12,800/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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