- Moderate trading activity notices in Central and Eastern markets
- Prices likely to remain volatile in coming days
India’s induction furnace (IF) steel prices showed mixed trends d-o-d across regions on 17 August 2026.
Sponge iron prices increased by INR 50-350/t d-o-d, with the sharpest hike of INR 350/t recorded in Durgapur to INR 25,300/t.
Billet prices increased by INR 50-200/t d-o-d across locations, with the highest upside movement seen of INR 200/t recorded in Chennai, Raipur and Raigarh where prices reached INR 43,500/t, INR 39,000/t and INR 38,400/t respectively. Meanwhile, prices witnessed marginal drop in Mumbai location by INR 100/t to INR 41,700/t.
Rebar (Fe 500) prices remain unchanged d-o-d in most of the locations except in Raigarh, Raipur, Mandi Gobindgarh and Durgapur markets where prices rose by INR 100/t d-o-d.
Today’s market witnessed moderate trading activity specifically in Central and Eastern belts. Although, the need-based buying has been witnessed in rest of the locations 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 rangebound during the current week, with market direction likely to depend on the pace of any new order bookings and improvement in end-user demand.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 12,700/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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