- Offers rise d-o-d, driven by strong bookings yesterday
- Trading activity remains low to moderate today
India’s induction furnace (IF) steel prices rose d-o-d across regions on 11 August 2026.
Sponge iron prices rose by INR 100-500/t d-o-d across locations, with the sharpest increase of INR 500/t seen in Raipur, where prices reached INR 25,500/t.
Billet prices increased by INR 100-350/t d-o-d across locations, with the highest rise of INR 350/t recorded in Raipur location by INR 350/t to INR 38,550/t.
Rebar (Fe 500) prices were up by INR 100-400/t d-o-d across locations. The steepest rise of INR 400/t was recorded in Raipur to INR 40,400/t.
Prices remained supported d-o-d, as mills raised offers in most regions, driven by good order bookings in yesterday’s trading session. However, fresh bookings remained low to moderate today, though this varied region wise.
However, healthy and consistent trading activity in the finished steel and semi-finished steel segment is still required to support further price gains. In the absence of stronger end-user demand, buyers are likely to continue purchase only against immediate requirements, limiting the pace of any sustained recovery.
Based on the current market scenario, prices are expected to remain firm this week. Further price direction will largely depend on the pace of finished steel sales and the continuity of booking activity across key consuming sectors.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 13,050/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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