- Moderate demand, planned mill shutdowns support BF rebar market sentiment
- IF-rebar prices increase w-o-w amid expectations of tigher inventories
Trade-level BF-rebar prices (distributor to dealer) increased by INR 800/t ($8/t) w-o-w to INR 48,700/t ($504/t) exy-Mumbai, as per BigMint’s assessment on 24 July 2026. Demand remained moderate this week, with buying largely driven by immediate project requirements.
However, market sentiment improved as several mills announced plans for routine maintenance shutdowns in August, while a few producers are expected to divert production capacity to other steel products. These developments are likely to reduce rebar availability and lower inventory levels during August, supporting prices.
Rebar project prices were workable in the range of INR 46,500-47,000/t ($476-486/t) on a landed basis. Buyers continued need-based procurement, while distributors remained optimistic over near-term price stability due to the anticipated tightening in supply.
Factors driving the market
IF-route rebar prices witness mixed trend amid moderate demand
IF-route rebar prices rose w-o-w across most regions this week, with only Durgapur and Muzaffarnagar recording marginal corrections of INR 200-300/t. Buying activity remained moderate in the early part of the week; however, enquiries and order bookings improved in the latter half of the week, particularly in the central and eastern regions, supporting price increases.
In the western region, mills raised list prices after trade prices had reached a bottom in the previous week, driven by moderate order bookings and an effort to restore margins. However, heavy rainfall during the current week disrupted construction activity, leading to subdued demand and prompting mills to adjust discount levels to sustain bookings.
Meanwhile, firm raw material prices and tight availability continued to support rebar prices. Mill inventories remained at around 10-15 days, while order booking visibility stayed limited to 3-5 days, reflecting continued need-based procurement.
IF rebar prices in Mumbai rose by INR 300/t ($3/t) to INR 44200/t (458/t).The BF-IF rebar price spread in Mumbai narrowed further w-o-w to around INR 4,500/t ($46/t). IF-route rebar continues to dominate the Indian market, accounting for an estimated 65-70% share.
2. Raw material prices remain largely stable
Prices of major raw materials used in the BF route remained largely stable during the week.
BigMint’s Odisha iron ore fines (Fe 62%) index remained unchanged w-o-w at INR 5,000/t ($62/t) ex-mines as of 23 July. Iron ore prices in Odisha remained firm as buyers cautiously monitored the outcome of the OMC auction on 20 July, while traders replenished inventories ahead of expected procurement requirements.
BigMint’s premium hard coking coal (PHCC) prices increased w-o-w to $245/t CNF Paradip, supported by firm international market sentiment and stable import demand, providing continued cost support to BF-route steel producers.
Update on projects
India’s infrastructure sector remained buoyant this week, led by major highway, steel, mining, and urban infrastructure awards exceeding INR 28,800 crore, with L&T, Welspun Enterprises, PNC Infratech, NBCC, and Madhya Pradesh securing key projects.
Outlook
BF-rebar prices are expected to remain firm as planned maintenance, lower inventories, and stable raw material costs offset moderate demand.
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