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Sponge iron, billet and rebar prices rise across key markets
- Buyers step up procurement after subdued activity in recent sessions
India’s induction furnace (IF) steel prices increase d-o-d across regions on 19 October 2026.
Sponge iron prices increased by INR 100-700/t d-o-d, with the sharpest hike recorded in the Durgapur region by INR 700/t.
Billet prices rose in the range of INR 200-1,000/t, with the steepest increase of INR 1,000/t observed in Ahmedabad and Bhavnagar.
Meanwhile, rebar (Fe 500) prices increased by INR 200-500/t across key markets, with the sharpest hike of INR 500/t recorded in Durgapur.
Buying activity remained moderate today. The uptick was primarily driven by pre-festival buying ahead of tomorrow’s market closure on account of Dussehra. After subdued buying activity over the past few sessions, buyers came forward to replenish stocks and meet immediate requirements ahead of the holiday.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 16,500/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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