- Mills lower offers on weak sales
- Subdued trading activities seen today
India’s induction furnace (IF) steel prices fell d-o-d across regions on 13 October 2026.
Sponge iron prices decreased by INR 50-350/t d-o-d. Prices dropped the steepest in Durgapur by INR 350/t to INR 27,150/t.
Billet prices dropped in the range of INR 50-700/t d-o-d. Prices fell the sharpest in Mandi Gobindgarh by INR 700/t to INR 48,000/t.
Rebar (Fe 500) prices decreased across locations by INR 200-500/t. Prices dropped in Mandi and Hyderabad markets by INR 500/t to INR 52,200/t and INR 51,500/t respectively.
Market participants reported subdued trading activity today, with buying interest remaining largely need-based.
Persistent weakness in finished steel demand continued to weigh on the market, prompting several producers to either lower offers or provide discounts to accelerate material movement.
Prices are expected to remain under pressure during the current week, with market direction likely to depend on the pace of fresh bookings and improvement in end-user demand. Until buying activity strengthens, need-based procurement and cautious trading are expected to dominate the market.
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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