- Rebar and Billet prices fall; Sponge iron shows mixed trends
- Subdued trading activity recorded d-o-d in the spot market
India’s induction furnace (IF) steel prices showed mixed trends d-o-d across regions on 21 July 2026.
Sponge iron prices varied INR 50-200/t d-o-d across locations, with the sharpest fell of INR 150/t seen in Durgapur, where prices reached INR 22,850/t. However, prices rose by INR 200/t to INR 23,000/t in Jharsuguda market.
Billet prices dropped by INR 50-300/t d-o-d across locations, with the highest decrease of INR 300/t recorded in Raigarh and Ahmedabad markets, where prices reached INR 37,300/t and INR 40,800/t respectively.
Rebar (Fe 500) prices fell by INR 100-400/t across locations. The steepest drop of INR 400/t was recorded in Raipur to INR 39,400/t.
Today’s market witnessed subdued trading activity across most of the markets, with prices declining d-o-d in both finished steel and semi-finished steel segments. The correction was primarily driven by slower sales and weakening fresh bookings, which capped any upward price momentum. Market participants reported that buyers largely restricted procurement to immediate requirements, while dispatches and material lifting continued against previously booked orders.
Prices are expected to remain volatile during the current week, with market direction likely to depend on the pace of fresh bookings and improvement in end-user demand. Until buying activity strengthens, need-based procurement and cautious trading are expected to dominate the market.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,050/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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