- Prices increase on moderate finished steel bookings
- Need sustained trading activity for further price support
India’s induction furnace (IF) steel prices surged d-o-d across regions on 27 May 2026.
Sponge iron prices increased by INR 150-300/t d-o-d, with the sharpest rise in Ramgarh market of INR 300/t to INR 24,300/t.
Billet prices climbed up by INR 100-500/t d-o-d across locations, with the highest increase of INR 500/t recorded in Ahmedabad and Chennai, where prices reached INR 44,000/t and INR 41,500/t, respectively.
Rebar (Fe 500) prices increased by INR 100-600/t d-o-d. Prices rose the sharpest in Raigarh by INR 600/t to INR 42,600/t.
Overall sales activity in the market remained moderate on a d-o-d basis. Prices increased, primarily driven by moderate finished steel bookings received by manufacturers during last two 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 supportive these 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 14,300/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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