India’s induction furnace (IF) steel market witnessed subdued activity today, with mills reducing offers by INR 50-300/tonne (t) d-o-d on 21 August 2025.
Sponge iron offers dropped by INR 50-200/t d-o-d, with a steep fall of INR 200/t seen in Raipur. In Durgapur, however, prices inched up by INR 50/t .
Billet tags inched lower, by INR 100-300/t d-o-d, with the steepest fall of INR 300/t witnessed in the Ahmedabad market. However, in Chennai prices inched up by INR 200/t.
Rebar (Fe 500) tags moved down by INR 100-200/t d-o-d. In Ahmedabad and Mandi prices edged down by INR 200/t. However, prices slight up by INR 100/t in Durgapur market.
Sluggish transactional activities were witnessed in the spot market today, with buyers procuring material to fulfill immediate needs. Still there is lack of momentum in the finished segment which is pressurising sellers to reduce offers in key markets. However, manufacturers are adjusting trade discounts to liquidate material.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 13,500/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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