- Subdued trade activities witnessed in markets
- Producers reduce offers, buyers adapted need-based purchases
India’s induction furnace (IF) steel prices fell d-o-d across regions on 30 July 2026.
Sponge iron prices decreased by INR 50-200/t d-o-d, with the sharpest decline of INR 200/t recorded in Durgapur and Jharsuguda, where prices settled at INR 23,300/t and INR 24,100/t respectively.
Billet prices fell by INR 100-500/t d-o-d across locations, with the highest decrease of INR 500/t recorded in Jalna and Hyderabad where prices reached INR 41,000/t and INR 40,500/t respectively.
Rebar (Fe 500) prices dropped by INR 100-300/t d-o-d across locations, with an INR 300/t drop in Raipur and Ahmedabad markets to INR 40,000/t and INR 45,900/t respectively.
Today, market witnessed subdued trading activity, with prices correcting downside on a d-o-d basis across both finished and semi-finished steel segments. The decline was primarily driven by sluggish sales and weakening fresh bookings. Market participants reported that procurement remained largely need-based.
The finished steel market remained under pressure today as slower offtake weighed on mills order books. Buyers largely refrained from aggressive procurement, preferring to monitor market direction before committing to new purchases. This wait-and-watch approach resulted in limited trading volumes across key consuming regions.
In the semi-finished steel segment, weaker buying interest and subdued downstream demand reduced the urgency for fresh bookings, keeping overall trading momentum weak.
As per the current scenario, market expecting the current pressure on prices to persist over the remainder of the week unless demand from the finished steel segment shows a meaningful recovery.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 13,200/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
Leave a Reply