- Raw material shortage, strong demand drive price surge
- Prices to remain supported amid robust orders with sellers
India’s induction furnace (IF) steel prices surged d-o-d on 1 April 2026, driven by strong bookings.
Sponge iron offers rose in the range of INR 300-850/t d-o-d, with the sharpest rise of INR 850/t seen in Raipur, where prices settled at INR 27,400/t.
Billet prices increased by INR 400-1,350/t d-o-d across locations, with the steepest rise of INR 1,350/t recorded in Ramgarh, where prices reached INR 42,850/t.
Rebar (Fe 500) prices gained INR 400-1,200/t d-o-d. Prices rose by INR 1,200/t in Raigarh to INR 47,900/t.
Prices strengthened d-o-d across commodities today, driven by shortages of key raw materials, particularly scrap and sponge iron, amid ongoing geopolitical tensions.
Additionally, reduced inventory pressure on mills and manufacturers further supported the upward momentum. Sellers have received a high volume of orders over the last 2-3 days, which prompted them to increase offers across segments. As per the current scenario, prices are likely to remain firm this week.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 15,450/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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