India’s induction furnace (IF) steel market witnessed subdued activity today, with mills reducing offers by INR 50-300/tonne (t) d-o-d on 20 August 2025.
Sponge iron offers dropped by INR 50-300/t d-o-d, with a steep fall of INR 300/t seen in the Raigarh.
Billet tags inched lower, by INR 100-300/t d-o-d, with the steepest fall of INR 300/t witnessed in the Ahmedabad market. Only in Mumbai market where prices inched up by INR 100/t as observed.
Rebar (Fe 500) tags moved down by INR 100-300/t d-o-d and the major dropped in the Jalna region by INR 300/t.
Today in the spot market, buying interest was weak. Most buyers shifted into a wait-and-watch stance, limiting bulk procurement. Manufacturers opted to either trim their offers or adjust trade discounts based on prior bookings and payment terms. In the near term, prices are expected to move within a narrow band.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 13,500/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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