- Limited trading activities as noticed d-o-d
- Rising inventories in finished steel segment push mills to reduce offers
India’s induction furnace (IF) steel prices fell d-o-d across regions on 20 May 2026.
Sponge iron prices decreased by INR 100-1,200/t d-o-d, with the sharpest decline of INR 1,200/t recorded in Jharsuguda, where prices settled at INR 23,800/t.
Billet prices dropped by INR 50-550/t d-o-d across locations, with the highest decrease of INR 550/t recorded in Mumbai, where prices reached INR 42,300/t.
Rebar (Fe 500) prices dropped by INR 100-500/t d-o-d. Prices steepest fell by INR 500/t in Hyderabad, Mumbai and Durgapur locations to INR 46,000/t, INR 47,300/t and INR 42,100/t respectively.
Today, buying activity remained limited throughout the day. The continued correction over the past few trading sessions continued to put pressure on sellers. Weak sales and rising inventories (assessed at around 10-15 days, varying region- wise) in the finished steel segment remained the key factor behind the continued decline in sponge iron and billet prices, with buyers resisting bulk bookings. Therefore, manufacturers were compelled to reduce their offers. As per current market scenario, prices likely to remain volatile these week.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,250/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
Leave a Reply