- Buyers resort to need-based buying at higher offers
- Prices likely to remain volatile this week
India’s induction furnace (IF) steel prices fell d-o-d across regions on 30 September 2026.
Sponge iron prices decreased by INR 100-350/t d-o-d. Prices dropped the steepest in Durgapur by INR 350/t to INR 28,800/t.
Billet prices dropped by INR 50-800/t d-o-d. Prices fell the sharpest in Ahmedabad by INR 800/t to INR 48,000/t.
Rebar (Fe 500) prices seen variation by INR 100-400/t d-o-d across locations.
Trading activity remained largely subdued at higher offers. Buyers 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 amid cautious buying.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 16,050/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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