- Prices surge on strong bookings over the past two days
- Prices likely to remain firm this week amid lack of sales pressure
India’s induction furnace (IF) steel prices rose sharply d-o-d across regions on 19 August 2026.
Sponge iron prices increased by INR 100-400/t d-o-d, with the sharpest hike of INR 400/t recorded in Raigarh to INR 26,500/t.
Billet prices increased by INR 200-600/t d-o-d across locations, with the highest upside movement seen of INR 600/t recorded in Mumbai, where prices reached INR 42,800/t.
Rebar (Fe 500) prices rose by INR 200-800/t d-o-d. The steepest increase of INR 800/t was seen in Jalna and Hyderabad, to INR 46,000/t and INR 45,800/t respectively.
Prices found support on improved booking activity over the past two days in finished steel and semi-finished steel segment. Although, low to moderate trading activity witnessed d-o-d, with procurement limited to immediate requirements amid slow market movement across the regions.
On the supply side, sellers faced no immediate pressure to conclude sales and therefore maintained higher offer levels.
Prices are expected to remain firm this week. However, the pace of fresh bookings will depend on buyers’ willingness to accept higher offer levels following recent procurement.
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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