- Buyers stay on sidelines amid Ganesh Chaturthi
- Mills adjust trade prices to stimulate bookings
India’s induction furnace (IF) steel prices showed a mixed trend d-o-d across regions on 14 September 2026.
Sponge iron prices decreased by INR 50-200/t d-o-d. Prices dropped the steepest in Raigarh and Durgapur by INR 200/t to INR 28,900/t and INR 29,500/t respectively. However, prices inched up in Hyderabad by INR 100/t.
Billet prices decreased by INR 50-400/t d-o-d. Prices fell the sharpest in Raipur by INR 400/t to INR 43,600/t.
Rebar (Fe 500) prices increased by INR 100-500/t d-o-d. Prices rose by INR 500/t in Hyderabad to INR 51,500/t.
Trading activity remained largely subdued due to the Ganesh Chaturthi festival. Buyers largely limited their purchases to immediate requirements across both finished and semi-finished steel markets, while sellers remained focused on executing earlier bookings and dispatches as fresh order inflows stayed low.
To support sales and maintain liquidity, mills either adjusted trade prices or reduced their offers slightly in line with levels agreed under previous bookings. Going forward, steel prices are expected to remain volatile over the coming days amid cautious buying activity at higher offer levels.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,000/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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