- Prices show mixed trends amid need-based buying activity
- Prices expected to remain volatile these week
India’s induction furnace (IF) steel prices witnessed mixed trend d-o-d across regions on 7 September 2026.
Sponge iron prices decreased by INR 100-300/t d-o-d. Prices dropped the steepest in Raigarh by INR 300/t to INR 28,100/t.
Billet prices increased by INR 100-450/t d-o-d. Prices rose the sharpest in Raipur by INR 450/t to INR 42,250/t.
Rebar (Fe 500) prices fluctuated by INR 100-300/t d-o-d. Prices rose by INR 300/t in both Mumbai and Raipur to INR 50,000/t and INR 43,900/t, respectively. Meanwhile, in Mandi, prices dropped by INR 300/t to INR 51,400/t.
Trading activity remained low to moderate in finished steel as well as semi-finished steel, with procurement limited to immediate requirements amid slow market movement. To support sales and sustain liquidity, mills either lower their offers or to offering discounts as per previous booking orders. At higher side, weakening fresh booking orders, leading to slower offtake. Sellers primarily focused on executing earlier bookings and dispatches. Prices are expected to remain volatile during the current week.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 13,650/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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