- Firmer raw material prices lifts finished steel offers
- Prices expected to stay firm ahead
India’s induction furnace (IF) steel prices rose d-o-d across regions on 1 October 2026.
Sponge iron prices increased by INR 100-400/t d-o-d. Prices rose the steepest in Raipur by INR 400/t to INR 29,550/t.
Billet prices surged by INR 300-700/t d-o-d. Prices fell the sharpest in Ahmedabad by INR 700/t to INR 48,700/t.
Rebar (Fe 500) prices increased by INR 100-500/t d-o-d across locations.
Today, steel prices increased on a d-o-d basis, supported by moderate trading activity, backed by firmer raw material prices, particularly in sponge iron and billets and good booking volumes in the spot market as reported. Additionally, the absence of significant sales pressure, along with previously booking orders in the finished steel segment encouraged manufacturers to maintain higher offer levels. Prices likely to remain firm in coming days.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 16,200/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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