- IF steel prices rose d-o-d led by firm input costs
- Buying remains slow amid weak ground level demand
India’s induction furnace (IF)-route steel prices moved upward d-o-d across major markets on 29 September 2026.
Sponge iron: Prices increased by INR 50-500/t d-o-d, with the sharpest rise of INR 500/t in Hyderabad.
Billet: Prices increased by INR 50-1,000/t d-o-d, with the steepest hike of INR 1,000/t in Chennai, Jalna, Ahmedabad and Bhavnagar.
Rebar (Fe 500) Prices rose by INR 200-900/t d-o-d, led by Ahmedabad with a INR 900/t increase.
Buying activity remained slow across the semi-finished and finished steel segments today, as prevailing prices stayed on the higher side and buyer acceptance at these levels remained limited. Ground-level demand continued to be subdued, while buyers had already covered their near-term requirements through procurement in the previous few sessions, resulting in limited fresh enquiries and slower order bookings today. Meanwhile, coal prices remained firm, with recent CIL subsidiary auctions fetching higher premiums for competitive grades, keeping input-cost pressure elevated for steel producers. As per the current scenario, prices are likely to remain firm during the week, supported by mills having received moderate booking orders in recent sessions.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 15,950/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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