- Weak sales dampen trading sentiment
- Market likely to remain slow this week
India’s induction furnace (IF) steel prices fell d-o-d across regions on 8 October 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 27,950/t.
Billet prices dropped in the range of INR 100-500/t d-o-d. Prices fell the sharpest in Ahmedabad by INR 500/t to INR 48,000/t.
Rebar (Fe 500) prices decreased across locations by INR 100-300/t. Prices were steepest dropped in Rourkela by INR 300 to INR 47,400/t.
Market sentiment remained weak as buyers adopted a cautious stance. Trading activity stayed largely subdued 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, while new order inflows remained low. As per current scenario, market likely to remain slow these week.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 16,550/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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