- Improved bookings yesterday push sellers to raise offers today
- Trading moderate today, purchases limited to immediate needs
India’s induction furnace (IF) steel prices surged d-o-d across regions on 25 September 2026.
Sponge iron prices increased by INR 300-400/t d-o-d, with the sharpest hike of INR 400/t recorded in Ramgarh to INR 28,150/t.
Billet prices rose by INR 250-1,000/t d-o-d across locations, with the highest increase of INR 1,000/t seen in Ahmedabad and Hyderabad to INR 46,500/t and INR 46,000/t respectively.
Rebar (Fe 500) prices increased by INR 100-500/t d-o-d, with the sharpest hike of INR 500/t recorded in Hyderabad to INR 51,000/t.
Today, prices increased due to improved booking activity in the previous trading session across both the semi-finished and finished steel segments, which encouraged sellers to raise offers. However, trading activity remained largely low to moderate, with procurement primarily restricted to immediate requirements.
Prices are expected to remain firm this week, supported by tightness in raw material availability. However, the pace of fresh bookings will depend on buyers’ willingness to accept the higher offers.
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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