- Semis, finished steel trade activity improves slightly
- Diesel shortages disrupt transport, material supply
India’s induction furnace (IF) steel prices witnessed mix trend d-o-d across regions on 14 May 2026.
Sponge iron prices increased by upto INR 350/t d-o-d, with the sharpest increase recorded in Raigarh, where prices settled at INR 24,750/t. While, in most markets prices were stable d-o-d.
Billet prices rose by upto INR 300/t d-o-d across locations, with the steepest rise of INR 300/t recorded in Bhavnagar & Ahmedabad, where prices reached INR 43,000/t & 43,300/t.
Rebar (Fe 500) prices dropped by INR 100-500/t d-o-d. Prices fell by INR 500/t in Hyderabad to INR 47,000/t. Raipur & Mandi markets witnessed slight increase of INR 100-200/t d-o-d.
Amid lower offers, buying activity improved slightly during the first half of the day. This led semi-finished steel producers in select markets in central India to raise offers during the second half. Improved finished steel demand was also observed in certain markets like Raipur due to rise in semis prices, though sentiment remained subdued elsewhere.
Additionally, diesel shortages at several fuel stations have disrupted transportation movement, potentially impacting material supplies and causing delivery delays across markets, as per sources.
Given the prevailing market conditions, sellers are likely to maintain stable offers in the near term, with potential price hikes dependent on sustained buying momentum.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,550/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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