- Finished Steel Buying Activity Picks Up
- Market Momentum Turns Positive
India’s induction furnace (IF)-route steel prices witnessed a mixed trend d-o-d across regions on 9 September 2026.
Sponge iron prices increased by INR 50-300/t d-o-d across the region, with the sharpest increase of INR 300/t recorded in the Chennai market.
Billet prices showed a mixed trend d-o-d, with prices increasing by INR 100-500/t across most markets. However, Durgapur, Raigarh and Kolkata witnessed declines of INR 50-200/t.
Rebar (Fe 500) prices witnessed an upward trend d-o-d, increasing by INR 200-700/t across most markets. However, Muzaffarnagar recorded a decline of INR 200/t.
Market activity improved notably during the second half of the day, with buying interest picking up across the finished steel segment. After limited participation over the past few sessions, buyers returned to the market, supporting better trade volumes and overall sentiment. Billet trading activity was also healthy, with improved enquiries and transactions reported during the day. The broader pickup in buying indicates a positive shift in market momentum, as participants showed greater confidence in current price levels.
Prices are expected to remain volatile and on plus side in the near term, with market direction likely to depend on the pace of fresh 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 14,300/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
Leave a Reply