- Prices surge on healthy bookings over past few days
- Prices likely to remain firm amid lack of sales pressure
India’s induction furnace (IF) steel prices rose sharply d-o-d across regions on 21 August 2026.
Sponge iron prices increased by INR 400-800/t d-o-d, with the sharpest hike of INR 800/t recorded in Jharsuguda market to INR 26,600/t
Billet prices increased by INR 300-1,050/t d-o-d across locations, with the highest upside movement seen of INR 1,050/t recorded in Raipur, where prices reached INR 40,550/t.
Rebar (Fe 500) prices rose by INR 100-1,000/t d-o-d. The steepest increase of INR 1,000/t was seen in Raigarh, to INR 42,200/t.
Today too, the price rally continued in the spot market, supported by active buying over the past few days and a steady flow of healthy booking orders.
Sellers continued to raise their offers as inventory pressure eased, particularly in the finished steel segment, while smooth dispatches of previously booked material further strengthened their confidence. Additionally, weaker monsoon conditions supported sales in the spot market and improved overall trading activity.
Consequently, market sentiment remained positive, with prices expected to stay firm in the coming days. However, the continuity of new bookings will depend on buyers’ willingness to accept increased offer levels following recent procurement activity.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 12,800/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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