India’s induction furnace (IF) steel market witnessed mixed up activity today, with mills offering prices in the range of INR 100-500/tonne (t) d-o-d on 11 August 2025.
Sponge iron prices rose by INR 100-450/t d-o-d across locations except in Hyderabad where prices inched down by INR 100/t.
Billet tags increased by INR 150-500/t d-o-d across locations except in the Chennai market where prices dropped down by INR 500/t.
Rebar (Fe 500) tags showed mixed trends of INR 100-200/t d-o-d.
Today, the market witnessed a lack of fresh buying enquiries amid increased price levels. Procurement activity remained limited and largely need-based, as buyers had already engaged in significant transactions over the past few days specifically in finished steel. According to market participants, prices are expected to hover within a narrow range in the short term.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in Raipur was INR 13,250/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
Leave a Reply