- Sponge prices drop by INR 50-250/t in most markets
- Trade remains limited amid need-based buying
India’s induction furnace (IF) steel market witnessed mixed trends today, with mills offering prices in the range of INR 50-300/tonne (t) d-o-d on 12 August 2025.
Sponge iron prices decreased by INR 50-250/t d-o-d across locations except in the markets such as Hyderabad, Chennai and Bellary where the prices are stable.
Billet tags dropped down by INR 100-300/t d-o-d across locations except in the Mumbai, Jalna, Hyderabad and Chennai.
Rebar (Fe 500) prices moved in a narrow range of around INR 100/t d-o-d across locations except in Mandi and Raipur where the prices dropped by INR 100/t.
Trade activity remained limited today, varying across locations. In several regions, buyers purchased only as per immediate requirements, while manufacturers either reduced offers or adjusted trade discounts in line with earlier bookings and payment terms. In the near term, prices are likely to fluctuate within a narrow range.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in Raipur was INR 13,200/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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