- IF steel prices show mixed trends
- Prices to remain volatile this week
India’s induction furnace (IF) steel prices witnessed mixed trend d-o-d across regions on 3 September 2026.
Sponge iron prices Increased by INR 100-350/t d-o-d across the region except the Chennai market where price reduced by INR 200/t.
Billet prices Increased by INR 50-300/t d-o-d. Prices showed sharpest increased of INR 300/t mainly in southern market.
Rebar (Fe 500) prices showed mixed variation d-o-d. Prices rose by INR 200-500/t in Durgapur, Hyderabad and Jaipur market. Meanwhile, in Rourkela, Mandi, Jalna and Muzzaffarnagar market prices dropped by INR 100-500/t.
Today, the market witnessed slow trading activity across the region, with buying largely limited to immediate and need-based requirements. Weak demand in the retail segment of finished steel continued to cap market activity, while subdued fresh bookings kept buyer sentiment cautious. However, elevated raw material costs limited sellers’ ability to reduce working prices, as mills remained firm on offers to protect margins, resulting in limited deal-making.
Prices are expected to remain volatile during the current week, with market direction likely to depend on the pace of fresh order bookings and any 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 13,100/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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