- Price correction boosts buying
- Finished steel demand gains momentum
India’s induction furnace (IF) steel prices showed mixed trends d-o-d across regions on 10 Aug 2026.
Sponge iron prices declined in the range of INR 50-200/t d-o-d, except in the Raigarh market where the prices rose by INR 150/t.
Billet prices witnessed a mixed trend, with d-o-d movements ranging from INR 50–350/t across major markets. Prices increased in Raigarh, Durgapur and Kolkata, while other markets remained stable to slightly lower.
IF-route rebar (Fe 500) prices witnessed a mixed trend, moving by INR 100-900/t d-o-d across key markets, with the steepest fall of INR 900/t seen in the Delhi market.
Trading activity remained slow during the first half of the day but improved in the second half across the region, supported by good demand from the finished steel segment. The recent price correction encouraged buyers to increase bookings, resulting in improved order flow for finished steel and subsequently supporting good booking activity for semi-finished materials such as sponge iron and billet.
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)
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