India’s induction furnace (IF) steel market experienced a slowdown due to festive season, with mills’ offers fluctuating by INR 50-200/tonne (t) d-o-d on 28 August 2025.
Sponge iron offers decreased by INR 50-150/t d-o-d except in the Ramgarh market where prices inched up by INR 100/t.
Billet tags dropped by INR 50-200/t d-o-d across locations except in Mumbai and Jalna where the prices edged up by INR 100/t.
Rebar (Fe 500) offers remained stable d-o-d across locations except in Mumbai where the price increased by INR 100/t and in Durgapur market where the price dropped by INR 100/t .
Trade activity stayed subdued today, with variations across regions. In many areas, buyers restricted purchases to immediate requirements, while manufacturers responded by lowering offers or adjusting trade discounts based on prior bookings and payment terms.
Ongoing festive celebrations also contributed to the sluggish buying sentiment. In the near term, prices are expected to remain range-bound.
The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 13,600/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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