- Improved bookings across regions strengthen market sentiment
- Active sales supports firm steel prices in coming days
India’s induction furnace (IF) steel prices increased d-o-d across regions on 17 July 2026.
Sponge iron prices rise INR 50-350/t d-o-d across locations, with the sharpest upside movement of INR 350/t seen in Raipur, where prices reached INR 23,550/t.
Billet prices rose by INR 100-700/t d-o-d across locations, with the highest increase of INR 700/t recorded in Mumbai, where prices reached INR 40,500/t.
Rebar (Fe 500) prices upside by INR 100-800/t across locations. Major rise of INR 800/t was recorded in Mumbai to INR 43,500/t.
Prices found support on a d-o-d basis due to improved booking activity in both the semi-finished and finished steel segments across major regions. A gradual recovery in sales activity, coupled with active bookings during last couple of days, further strengthened market sentiment and provided additional support to prices.
Encouraged by the improved buying interest and smooth lifting of material prompted sellers to raised their offer levels and attempted to push the market higher. Market participants reported firmer negotiations, supported by better order inflows and increased confidence among sellers.
Based on the current market scenario, prices are expected to remain firm in coming days, supported by improved booking activity.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,250/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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