- Limited market activity due to buyer caution
- Prices to stay range-bound in the next couple of days
India’s induction furnace (IF) steel market witnessed dull sentiments today due to lower buying enquiries in finished steel as on 9 December 2025.
Sponge iron offers dropped by INR 50-300/t d-o-d, with a steep drop of INR 300/t in the Raipur market to INR 23,100/t.
Billet prices decreased by INR 100-500/t d-o-d across locations, with prices sharpest dropped by INR 500/t in Hyderabad to INR 38,000/t.
Rebar (Fe 500) tags moved down by INR 100-200/t d-o-d. Prices dropped the highest in Raipur, Durgapur and Jalna, by INR 200/t to INR 39,100/t, INR 39,200/t and INR 43,300/t respectively. However, only in Mumbai prices increased by INR 100/t to INR 44,400/t.
Buying inquiries remained limited in the spot market today. Buyers adopted a cautious stance toward bulk procurement of raw materials due to lack of fresh bookings in the finished steel segment. Prices are expected to stay range-bound over the next two days.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 13,350/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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