- Low-to-moderate bookings seen in today’s trading session
- Prices likely to remain firm this week
India’s induction furnace (IF) steel prices witnessed mixed trend d-o-d across regions on 15 September 2026.
Sponge iron prices increased by INR 100-300/t d-o-d, with the sharpest hike of INR 300/t recorded in Chennai to INR 31,800/t. However, prices fell in Raipur markets to INR 150/t and stood at INR 29,450/t.
Billet prices increased by INR 150-800/t d-o-d across locations, with the highest upside movement seen in Raipur and Raigarh by INR 800/t in both the locations and prices stands INR 44,400/t and INR 44,100/t respectively. In Raipur and Raigarh markets, price rally was supported by tight availability of billet due to lower production levels from mills and demand from neighbouring markets also aided the positive sentiments today. Meanwhile, prices dropped in Ahmedabad market by INR 200/t to INR 47,600/t.
Rebar (Fe 500) prices remain unchanged in most of the markets except in Raipur, Raigarh and Mumbai where prices slightly up by INR 200/t d-o-d.
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. In finished steel, weakening fresh booking orders at elevated offers and 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 14,950/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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