- Buyers stay on sidelines, bulk bookings absent
- Subdued trading activities reported today
India’s induction furnace (IF) steel prices fell d-o-d across regions on 27 April 2026.
Sponge iron prices decreased in the range of INR 150-400/t d-o-d, with the sharpest decline of INR 400/t seen in Bellary, where prices settled at INR 26,400/t.
Billet prices dropped by INR 100-300/t d-o-d across locations, with the highest decrease of INR 300/t recorded in Raigarh, where prices reached INR 41,700/t. However, prices slight rise by INR 150/t in Ramgarh market to INR 41,450/t.
Rebar (Fe 500) prices dropped by INR 100-600/t d-o-d. Prices declined the steepest in Jalna market by INR 600/t where prices stood at INR 51,000/t.
Market sentiment remained soft and trading subdued on weakening finished steel sales, with buyers restricting purchases to immediate needs. Manufacturers lowered offers or provided discounts to liquidate material because of rising inventory pressure across commodities.
Going by current market trends, prices may remain weak in the coming days owing to lack of booking orders in the finished steel segment.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 16,150/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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