- Buyers stay on sidelines, bulk bookings absent
- Subdued trading activities reported today
India’s induction furnace (IF) steel prices fell d-o-d across regions on 20 April 2026.
Sponge iron prices decreased in the range of INR 100-700/t d-o-d, with the sharpest decline of INR 700/t seen in Bellary, where prices settled at INR 26,800/t.
Billet prices dropped by INR 200-700/t d-o-d across locations, with the highest decrease of INR 700/t recorded in Chennai, where prices reached INR 46,000/t.
Rebar (Fe 500) prices dropped by INR 200-500/t d-o-d. Prices dropped by INR 500/t in Durgapur and Mandi to INR 45,600/t and INR 50,800/t respectively.
Market sentiment remained soft and trading remained subdued on weakening finished steel sales, with buyers restricting purchases to immediate needs. Manufacturers lowered offers or provided discounts to liquidate material.
Going by current market trends, prices may remain weak in coming days owing to lack of booking orders in the finished steel segment.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 15,950/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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