India’s induction furnace (IF) steel prices declined d-o-d across regions on 22 June 2026.
Sponge iron prices decreased by INR 50-350/t d-o-d, with the sharpest decline of INR 350/t recorded in Raigarh, where prices settled at INR 23,200/t.
Billet prices eased by INR 100-250/t d-o-d across locations, with the highest decrease of INR 250/t recorded in Durgapur and Kolkata, where prices reached INR 38,350/t and 38,650/t respectively.
Rebar (Fe 500) prices dropped by INR 100-400/t across regions. The sharpest decline of INR 400/t was seen in the Ahmedabad market and the price stood at INR 46,300/t.
Trading activity remained largely subdued today, with mills offering trade discounts or lowering offers to stimulate sales. Mill inventories stood at around 12-15 days, varying across regions, reflecting higher stock levels amid weak traction in the finished steel segment.As a result, buyers continued to procure sponge iron and billets cautiously and only against immediate requirements. Given the prevailing market conditions, prices are expected to remain under pressure in the near term.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,850/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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