- Rebar, billet prices decline; sponge iron shows mixed trends
- Finished steel buyers remain cautious, purchase on need basis
India’s induction furnace (IF) steel prices showed mixed trends d-o-d across regions on 22 July 2026.
Sponge iron prices varied INR 100-350/t d-o-d across locations, with the sharpest fall of INR 350/t seen in Ramgarh, where prices reached INR 22,550/t. However, prices rose by INR 150/t to INR 24,000/t in Raipur market.
Billet prices dropped by INR 100-200/t d-o-d across locations, with the highest decrease of INR 200/t recorded in Jalna and Ahmedabad markets, where prices reached INR 40,000/t and INR 40,600/t, respectively.
Rebar (Fe 500) prices fell by INR 100-200/t across locations. The steepest drop of INR 200/t was recorded in Mandi Gobindgarh and Ahmedabad to INR 46,800/t and INR 45,400/t respectively.
Trading activity across most markets remained subdued today, with prices declining d-o-d in both the finished steel and semi-finished steel segments. The correction was driven by slower fresh bookings, which prevented any upward movement.
In the finished steel segment, buyers largely refrained from aggressive procurement, opting instead for need-based purchases. The cautious buying pattern resulted in lower spot market transactions and increased sales pressure on suppliers. The semi-finished steel market also witnessed limited activity, with weaker booking volumes weighing on prices.
Prices are expected to remain volatile during the current week, with market direction likely to depend on the pace of fresh 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 13,800/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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