- Raw material shortage, strong demand drive price surge
- Prices expected to remain supportive this week
India’s induction furnace (IF) steel prices recorded a sharp surge d-o-d across regional markets on 30 March 2026 backed by strong booking orders.
Sponge iron offers rose in the range of INR 700-1,300/t d-o-d, with the sharpest rise of INR 1,300/t seen in Raipur, where prices settled at INR 26,900/t.
Billet prices increased by INR 700-2,300/t d-o-d across locations, with the steepest surge of INR 2,300/t recorded in Jalna, where prices reached INR 45,500/t.
Rebar (Fe 500) prices gained INR 500-2,600/t d-o-d. Prices rose by INR 2,600/t in Raigarh to INR 47,600/t.
Prices across commodities showed d-o-d improvement today, driven by shortages of key raw materials, particularly scrap and sponge iron, amid ongoing geopolitical tensions.
Additionally, manufacturers have received strong order bookings since Saturday evening, which further supported the upward momentum. These factors have prompted market participants to increase their offers in both the semi-finished and finished steel segments. As per current scenario, prices likely to remain firm these week.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 15,450/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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