- Need-based buying amid weaken finished steel sales
- Mills lower prices to stimulate bookings
India’s induction furnace (IF) steel prices fell d-o-d across regions on 22 September 2026.
Sponge iron prices decreased by INR 100-650/t d-o-d. Prices dropped the steepest in Durgapur by INR 650/t to INR 28,650/t.
Billet prices decreased by INR 200-700/t d-o-d. Prices fell the sharpest in Ahmedabad by INR 700/t to INR 46,500/t.
Rebar (Fe 500) prices decreased by INR 100-500/t d-o-d. Prices majorly fell by INR 500/t in Ahmedabad and Raigarh markets to INR 52,000/t and INR 46,700/t respectively.
Market participants reported subdued trading activity today, with buying interest remaining largely need-based.
Persistent weakness in finished steel sales continued to weigh on the market, prompting several producers to either lower offers or provide discounts to accelerate material movement. Meanwhile, sellers remained focused on executing earlier bookings and dispatches as fresh order inflows stayed low. Going forward, steel prices are expected to remain volatile amid cautious buying.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 15,900/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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