- Buyers stay on sidelines, engage in need-based purchases
- Manufacturers reduce offers amid dull trading activities
India’s induction furnace (IF) steel prices fell d-o-d across regions on 18 May 2026.
Sponge iron prices decreased by INR 100-350/t d-o-d, with the sharpest decline of INR 350/t recorded in Durgapur, where prices settled at INR 24,650/t.
Billet prices dropped by INR 150-800/t d-o-d across locations, with the highest decrease of INR 800/t recorded in Jalna, where prices reached INR 41,700/t.
Rebar (Fe 500) prices dropped by INR 200-300/t d-o-d. Prices fell by INR 300/t in Raipur and Hyderabad markets to INR 43,100/t and INR 47,000/t.
Today, buying activity remained low-to-moderate, with participants largely restricting purchases to immediate requirements. Weak demand in the finished steel segment remained the key factor behind the continued decline in sponge iron and billet prices, with buyers resisting bulk bookings. Mills faced inventory pressure, with inventory assessed at around 10-12 days in the finished steel segment, though this varied from region to region. Therefore, manufacturers were compelled to reduce their offers.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,400/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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