- Trading stalls amid Ganesh Chaturthi
- Buyers adopt wait-and-watch stance
India’s induction furnace (IF) steel market experienced a slowdown due to the Ganesh Chaturthi festival, with mills’ offers fluctuating by INR 50-500/tonne (t) d-o-d on 27 August 2025.
Sponge iron offers increased by INR 50-150/t d-o-d, with the steepest hike of INR 150/t in Raigarh.
Billet tags varied by INR 50-200/t across locations.
Rebar (Fe 500) offers fluctuated by INR 100-500/t d-o-d. In Hyderabad, prices fell by INR 500/t. However, prices edged up by INR 300/t in Raigarh.
Today, trading activity was muted. Major markets were closed due to Ganesh Chaturthi, and buyers showed less interest in procuring material and adopted a wait-and-watch stance. Overall, prices are likely to remain range-bound in the short term.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 13,650/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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