India’s induction furnace (IF) steel market witnessed dull sentiments today, and mill offers fluctuated by INR 50-300/tonne (t) d-o-d on 21 July 2025.
Sponge iron offers rose by INR 100-150/t d-o-d across regions and the sharpest increase was seen in Raigarh and Raipur except in bellary market where price fell by INR 100/t.
Billet tags varied by INR 50-200/t d-o-d across locations.
Rebar (Fe 500) tags moved down by INR 100-300/t d-o-d. Prices dropped by INR 300/t in Mumbai and Jalna markets.
Today, inquiries were limited in the spot market. Buyers undertook need-based procurement, and consequently, mills reduced offers or increased trade discounts. Market participants expect prices to hover within a limited range in the short term.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was INR 12,850/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
Leave a Reply