- IF steel prices rise sharply across regions on higher offers, smooth material lifting
- Fresh bookings remain moderate but prices may stay firm amid healthy order inflows
India’s induction furnace (IF) steel prices increased d-o-d across major regions on 27 August 2026.
Sponge iron prices rose by INR 300-700/t d-o-d, with the steepest increase of INR 700/t recorded in Durgapur.
Billet prices increased by INR 500-1,100/t d-o-d across locations. The highest increase of INR 1,100/t was recorded in the Raipur market, where prices reached INR 41,700/t.
Rebar (Fe 500) prices rose by INR 500-1,400/t d-o-d, with the sharpest increase of INR 1,400/t recorded in Raigarh, taking prices to INR 43,700/t.
Buying activity remained moderate, while the smooth lifting of previously booked material supported the overall price trend across regions. On the supply side, sellers remained under no immediate pressure to conclude sales and continued to maintain higher offers, particularly in the finished steel segment.
Prices are expected to remain firm in the coming days, supported by healthy order bookings received over the past few days. However, the pace of fresh bookings will depend on buyers’ willingness to accept higher offer levels following recent procurement activity.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 12,700/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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