- Buyers stay on sidelines, engage in need-based purchases
- Slow finished steel sales weighs on semi-finished steel market
India’s induction furnace (IF) steel prices shown mixed trend d-o-d across regions on 29 May 2026.
Sponge iron prices varied by INR 50-200/t d-o-d. Prices sharpest fell in Hyderabad location by INR 200/t to INR 26,400/t.
Billet prices fluctuated by INR 50-300/t d-o-d across locations, with the highest increase of INR 300/t recorded in Hyderabad and Chennai locations.
Rebar (Fe 500) prices decreased by INR 100-400/t d-o-d. Prices fell the sharpest in Mumbai by INR 400/t to INR 46,400/t.
Limited trading activity was recorded despite improved sales in both the finished and semi-finished steel segments seen since the beginning of this week. Manufacturers attempted either to keep spot offers stable or raise prices. However, sales in the finished steel segment slowed today, leading to dull sales in sponge iron and billet markets.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,200/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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