- 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 11 September 2026.
Sponge iron prices increased by INR 100-200/t d-o-d, with the sharpest hike of INR 200/t recorded in Hyderabad and Bellary to INR 31,400/t and INR 30,700/t respectively.
Billet prices increased by INR 50-500/t d-o-d across locations, with the highest upside movement seen of INR 500/t recorded in Mandi Gobindgarh, Chennai, Rourkela and Hyderabad market respectively.
Rebar (Fe 500) prices rose by INR 200-1,000/t d-o-d. The steepest increase of INR 1,000/t was seen in Hyderabad, to INR 50,500/t. Meanwhile, prices in Raipur slightly dropped by INR 200/t.
Today, prices found support on d-o-d basis. Although, trading activity stayed low to moderate in finished steel as well as semi-finished steel, with procurement limited to immediate requirements. At higher side, weakening fresh booking orders, leading to slower offtake. Sellers primarily focused on executing earlier bookings and dispatch, while new order inflows remained low. To support sales and sustain liquidity, mills adjusting trade prices in line with previous booking orders. Prices are expected to remain firm these 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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