- Prices surge on healthy bookings, raw material supply tightness
- Prices likely to remain firm this week amid lack of sales pressure
India’s induction furnace (IF) steel prices rose sharply d-o-d across regions on 18 August 2026.
Sponge iron prices increased by INR 300-750/t d-o-d, with the sharpest hike of INR 750/t recorded in Ramgarh and Durgapur locations to INR 25,050/t and INR 26,050/t respectively.
Billet prices increased by INR 300-700/t d-o-d across locations, with the highest upside movement seen of INR 700/t recorded in Ramgarh and Ahmedabad, where prices reached INR 39,900/t and INR 42,500/t 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 Raipur, to INR 41,900/t.
Prices found support on a d-o-d basis today, with moderate bookings reported at higher offer levels across the finished and semi-finished steel segments. Sellers raised offers amid regional tightness in key metallics, particularly sponge iron and scrap.
On the supply side, sellers faced no immediate pressure to conclude sales and therefore maintained higher offer levels, particularly for finished steel.
Prices are expected to remain firm this week, supported by healthy order bookings over the past two days. However, the pace of fresh bookings will depend on buyers’ willingness to accept higher offer levels following recent procurement.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 12,400/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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