India’s induction furnace (IF) steel prices declined d-o-d across regions on 12 June 2026.
Rebar (Fe 500) prices weakened across most markets, registering d-o-d declines of INR 100-600/t. Goa witnessed the steepest fall, with prices easing by INR 600/t to INR 47,800/t.
Market activity remained sluggish on a d-o-d basis, with the finished steel segment witnessing limited trade volumes amid weak demand. Limited buying interest and the absence of active market participation kept prices under pressure. Buyers continued to follow a strictly need-based procurement strategy amid sluggish demand conditions, resulting in a dull market environment. With no signs of improvement in market activity, prices are expected to fluctuate marginally and remain within a narrow range in the coming days.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,700/t.
Leave a Reply