- Low-to-moderate bookings seen in today’s trading session
- Prices likely to remain firm this week on lack of sales pressure
India’s induction furnace (IF) steel prices rose sharply d-o-d across regions on 10 September 2026.
Sponge iron prices increased by INR 400-800/t d-o-d, with the sharpest hike of INR 800/t recorded in Hyderabad and Bellary to INR 31,200/t and INR 30,500/t respectively.
Billet prices increased by INR 300-1,000/t d-o-d across locations, with the highest upside movement seen of INR 1,000/t recorded in Raigarh, where prices reached INR 43,200/t.
Rebar (Fe 500) prices rose by INR 200-1,200/t d-o-d. The steepest increase of INR 1,200/t was seen in Raigarh, to INR 45,300/t.
Manufacturers received low to moderate bookings in today’s trading session across the semi-finished and finished steel segments. Prices remained supported by rising sponge iron and billet offers across regions. However, buying activity remained slow amid weak fresh bookings at elevated offer levels. On the supply side, sellers faced no immediate sales pressure and maintained higher offers. Prices are expected 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 14,250/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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