- Prices decline as demand remains muted all day
- Offers may increase if bids rise in OMC auction
India’s induction furnace (IF) steel market witnessed subdued sentiment on 18 February 2026. Prices fell by INR 50-200/t d-o-d in most markets.
Sponge iron prices declined by INR 50-100/t d-o-d across all regions amid subdued trade sentiment.
Billet prices dropped by INR 50-200/t d-o-d across locations. The highest decrease of INR 200/t was seen in Raipur, where prices stood at INR 40,800/t.
Rebar (Fe 500) prices fell by INR 100-200/t d-o-d. The highest drop of INR 200/t was in Mandi Gobindgarh, where prices settled at INR 49,100/t.
Spot prices fell today, as demand was soft throughout the day. Trades were limited, as many sellers waited for the results of OMC’s auction. Sellers expect improved bids and are planning to raise offers accordingly.
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