- Subdued trading activity observed across regions d-o-d
- Prices likely to remain volatile this week
India’s induction furnace (IF) steel prices witnessed mixed trends d-o-d across regions on 20 August 2026.
Sponge iron prices decreased by INR 100-300/t d-o-d, with the steepest fell of INR 300/t recorded in Raigarh to INR 26,200/t. Meanwhile, prices inched up in Hyderabad location to INR 100/t to INR 27,800/t.
Billet prices decreased by INR 100-500/t d-o-d across locations, with the sharpest drop were seen in Hyderabad location where prices reached to INR 41,500/t.
Rebar (Fe 500) prices fluctuated by INR 50-300/t d-o-d. The steepest increase of INR 300/t was seen in Ahmedabad and Mumbai markets, while major fall witnessed in Hyderabad, Raipur and Raigarh locations by INR 300/t.
Trading activity remained low to moderate, varying across regions. On the supply side, sellers remained under no immediate pressure to conclude sales as they have received adequate booking orders over last two days, particularly in the finished steel segment. However, weak buying interest in both semi-finished and finished steel at elevated offer levels continued to slow trading activity. This is putting pressure on mills to adjust trade prices in line with previous booking orders. Prices are expected to remain rangebound in the coming days, with market direction likely to depend on the pace of fresh order bookings and improvement in end-user demand.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 12,500/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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