- Weak sales keep steel market sentiment soft
- Producers trim offers to liquidate material
India’s induction furnace (IF) steel prices shown mixed-trends d-o-d across regions on 15 October 2026.
Sponge iron prices fluctuated by INR 100-300/t d-o-d. Prices dropped the steepest in Jharsuguda, by INR 300/t to INR 26,800/t. However, prices rose by INR 300/t in Bellary and Chennai locations.
Billet prices dropped by INR 100-400/t d-o-d. Prices fell the sharpest in Mandi Gobindgarh and Raipur, by INR 400/t to INR 46,600/t and INR 44,100/t respectively.
Rebar (Fe 500) prices decreased across locations by INR 100-500/t. Prices dropped the most in Hyderabad, by INR 500/t to INR 51,000/t. Meanwhile, prices majorly upside in Ahmedabad location by INR 300/t to INR 52,900/t.
Market sentiment remained soft, and trading was subdued, with buyers restricting purchases to immediate needs.
To liquidate material and maintain liquidity, manufacturers reduced offers or provided discounts. Sellers primarily focused on executing earlier bookings and dispatches, while fresh order inflows remained limited.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 16,100/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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