- Buyers stay on sidelines, engage in need-based purchases
- Manufacturers reduce offers due to lack of fresh bookings
India’s induction furnace (IF) steel prices fell d-o-d across regions on 26 June 2026.
Sponge iron prices decreased by INR 50-100/t d-o-d, with the sharpest decline of INR 100/t recorded in Bellary and Chennai where prices settled at INR 25,000/t and INR 25,800/t respectively.
Billet prices varied by INR 50-100/t d-o-d across locations, with the highest decrease of INR 100/t recorded in Ahmedabad, where prices reached INR 41,100/t.
Rebar (Fe 500) prices dropped by INR 100-500/t d-o-d. Prices fell by INR 500/t in Hyderabad to INR 43,000/t.
Today, buying activity remained dull, with buyers restricting themselves to need-based purchases. The lack of fresh order bookings, rising inventories and poor offtake of previously booked material in the finished steel segment remained the key factor behind the continued decline in sponge iron and billet prices, with buyers resisting bulk bookings.
Mills faced inventory pressure, with inventory assessed at around 10-15 days in the finished steel segment, though this varied from region to region. Therefore, manufacturers were compelled to reduce their offers.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,750/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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