- Buyers restrict purchases to immediate needs
- Limited fresh bookings prompt mills to adjust trade prices
India’s induction furnace (IF) steel prices shown mixed-trends d-o-d across regions on 22 October 2026.
Sponge iron prices seen variation by INR 50-300/t d-o-d. Prices rose the steepest in Bellary by INR 250/t to INR 29,750/t. However, prices majorly fell by INR 300/t in Chennai to INR 29,700/t.
Billet prices dropped by INR 100-350/t d-o-d. Prices dropped the sharpest in Raipur by INR 350/t to INR 44,050/t.
Rebar (Fe 500) prices fluctuated by INR 100-500/t. Prices dropped the most in Raigarh by INR 200/t to INR 52,300/t. Meanwhile, prices majorly upside by INR 500/t in Hyderabad market to INR 51,500/t.
Prices in the semi-finished and finished steel segments witnessed fluctuations today across regions. Market sentiment remained soft, and trading remained subdued on weakening finished steel sales, with buyers restricting purchases to immediate needs. Sellers primarily focused on executing earlier bookings and dispatches, while new order inflows remained low. To support sales and sustain liquidity, mills adjusted trade prices in line with previous booking orders.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 16,000/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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