- Dull buying enquiries keep market sentiments soft
- Rising Inventories and cautious steel demand weigh on market
India’s induction furnace (IF) steel prices fell d-o-d across regions on 13 May 2026.
Sponge iron prices decreased by INR 50-300/t d-o-d, with the sharpest decline of INR 300/t recorded in Chennai, where prices settled at INR 26,200/t.
Billet prices fell by INR 100-650/t d-o-d across locations, with the highest decrease of INR 650/t recorded in Mumbai, where prices reached INR 42,750/t.
Rebar (Fe 500) prices dropped by INR 200-500/t d-o-d. Prices fell by INR 500/t in Ahmedabad to INR 48,600/t.
Today, buying activity remained subdued at prevailing price levels, particularly in the finished steel segment. In the current market scenario, buyers are avoiding aggressive procurement and continuing with need-based purchases. Manufacturers are facing sales pressure amid rising inventories (10-12 days on average) and sluggish market activity.
Considering the weak market conditions, buyers are procuring limited volumes of billet and sponge iron. Meanwhile, sellers are offering discounts or lowering spot offers 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 14,650/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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