- Sponge iron, billet prices fall; rebar shows mixed trends
- Lower trading activity d-o-d weighs on commodity prices
India’s induction furnace (IF) steel prices showed mixed trends d-o-d across regions on 29 July 2026.
Sponge iron prices dropped INR 50-200/t d-o-d across locations, with the sharpest fall of INR 200/t seen in Chennai, where prices reached INR 26,800/t.
Billet prices decreased by INR 50-400/t d-o-d across locations, with the highest decrease of INR 400/t recorded in Ahmedabad, where prices reached INR 41,600/t.
Rebar (Fe 500) prices varied by INR 100-500/t across locations. The steepest drop of INR 300/t was recorded in Raipur to INR 40,300/t. Meanwhile, prices rose sharply by INR 500/t to INR 45,300/t in Jalna location.
Today’s market witnessed subdued trading activity, with prices declining d-o-d in both finished steel and semi-finished steel segments. The correction was primarily driven by slower sales and weakening fresh bookings, which capped any upward price momentum. Market participants reported that buyers largely restricted procurement to immediate requirements, while dispatches and material lifting continued against previously booked orders.
Prices are expected to remain rangebound during the week, with market direction likely to depend on the pace of fresh bookings and improvement in end-user demand.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 13,350/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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