- Buyers engage in need-based purchases
- Prices likely to remain volatile in coming days
India’s induction furnace (IF) steel prices fell d-o-d across regions on 1 September 2026.
Sponge iron prices decreased by INR 100-250/t d-o-d. Prices dropped the steepest in Raipur by INR 250/t to INR 29,350/t.
Billet prices decreased by INR 100-600/t d-o-d. Prices fell the sharpest in Mumbai by INR 600/t to INR 45,200/t.
Rebar (Fe 500) prices fluctuated by INR 100-500/t d-o-d. Prices rose by INR 200/t in Chennai and Ahmedabad to INR 49,700/t and INR 50,100/t respectively. Meanwhile in Raigarh, prices dropped by INR 500/t to INR 44,500/t.
Trading activity stayed largely subdued in finished steel as well as semi-finished steel across regions, with procurement limited to immediate requirements amid buyers’ resistance to elevated prices. Sellers primarily focused on executing earlier bookings and dispatches, while new order inflows remained low. To support sales and sustain liquidity, mills adjusted trade prices in line with previous booking orders. Prices are expected to remain volatile in the coming days.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 12,750/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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