- IF steel prices fall on subdued demand
- Trade volumes remain low, buying largely need-based
India’s induction furnace (IF) steel prices fell on 21 January 2026 due to subdued buying in most regions.
Sponge iron offers fell by INR 50-400/t d-o-d, with the steepest drop of INR 400/t to INR 26,600/t in Hyderabad.
Billet prices dropped by INR 100-500/t d-o-d across locations, with the steepest fall of INR 500/t to INR 42,000/t in Hyderabad.
Rebar (Fe 500) prices decreased by INR 100-400/t d-o-d. Prices decreased the highest in Mumbai, by INR 400/t to INR 49,900/t .
Limited trading volumes were recorded today across both finished steel and semi-finished segments, indicating cautious buying behaviour amid high prices. Activity stayed mostly need-based, since buyers had already secured required material earlier.
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