- Buyers stay on sidelines, engage in need-based purchases
- Manufacturers reduce offers due to lack of fresh bookings
India’s induction furnace (IF) steel prices shown mixed trend d-o-d across regions on 30 June 2026.
Sponge iron prices fluctuated by INR 100-200/t d-o-d, with the sharpest decline of INR 200/t recorded in Durgapur and Ramgarh locations and major rose by INR 200/t in Chennai and Hyderabad regions respectively where prices settled at INR 26,000/t and INR 25,900/t respectively.
Billet prices lowered by INR 100-500/t d-o-d across locations, with the highest decrease of INR 500/t recorded in Hyderabad, where prices reached INR 39,500/t. Meanwhile, prices inched up in Jalna and Chennai locations by INR 100/t and INR 200/t to INR 41,000/t and INR 42,000/t respectively.
Rebar (Fe 500) prices dropped by INR 100-200/t d-o-d. Prices fell by INR 200/t in Mandi Gobindgarh to INR 47,800/t.
Trading activity remained dull amid lack of fresh bookings. Since the last one month weak retail demand has continued to weigh on market sentiment. Additionally, elevated inventory levels, estimated at around 10-15 days (varying across regions), compelled sellers to either reduce spot offers or extend trade discounts to facilitate material movement. The persistent weakness in finished steel demand also discouraged buyers from procuring raw materials, particularly sponge iron and billets, as they preferred to maintain lean inventories.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,900/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
Leave a Reply