- Prices increase on moderate finished steel bookings yesterday
- Price rise may not sustain if steady trading does not continue
India’s induction furnace (IF) steel prices surged d-o-d across regions on 26 May 2026.
Sponge iron prices increased by INR 100-450/t d-o-d, with the sharpest rise in Raigarh market of INR 450/t to INR 24,450/t.
Billet prices climbed up by INR 50-500/t d-o-d across locations, with the highest increase of INR 500/t recorded in Ahmedabad and Hyderabad, where prices reached INR 43,500/t and INR 41,300/t, respectively. However, prices fell in Chennai market by INR 500/t to INR 41,000/t due to muted buying at higher side.
Rebar (Fe 500) prices increased by INR 100-400/t d-o-d. Prices rose the sharpest in Raipur by INR 400/t to INR 42,400/t.
Overall sales activity in the market remained limited on a d-o-d basis. Prices increased, primarily driven by moderate finished steel bookings received by manufacturers during yesterday’s trading session. Semi-finished steel prices also strengthened slightly, supporting moderate buying interest.
However, consistent healthy trading activity is still required in the market to support further price uptrend in the near term. Considering the current market scenario, prices are likely to remain volatile this week, while the overall market direction will largely depend on finished steel sales performance.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,350/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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