- Buyers stay on sidelines, engage in need-based purchases
- Prices likely to remain volatile this week
India’s induction furnace (IF) steel prices fell d-o-d across regions on 26 August 2026.
Sponge iron prices decreased by INR 50-200/t d-o-d. Prices steepest drop by INR 200/t in Hyderabad and Bellary to INR 28,700/t and INR 28,000/t respectively.
Billet prices fell by INR 100-450/t d-o-d across locations, with the highest decrease of INR 450/t recorded in Raigarh, where prices reached INR 40,300/t.
Rebar (Fe 500) prices dropped by INR 100-400/t d-o-d. Prices fell by INR 400/t in Raigarh to INR 42,300/t.
Today, trading activity stayed largely subdued amid slow market movement. The downside correction also has been witnessed across regions was primarily driven by slower sales and weakening fresh bookings, which capped any upward price momentum. Market participants reported that buyers largely restricted procurement to immediate requirements, while dispatches and material lifting continued against previously booked orders.
Prices are expected to remain rangebound during the current week, with market direction likely to depend on the pace of any new order 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 12,100/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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