- Sellers continue to raise offers amid previous healthy booking orders
- Trading activity turns subdued, with need-based buying dominating
India’s induction furnace (IF) steel prices increased d-o-d across regions on 4 August 2026.
Sponge iron prices increased INR 50-150/t d-o-d across locations, with prices rising by INR 150/t to INR 23,900/t in Duragpur market.
Billet prices rose by INR 50-300/t d-o-d across locations, with the highest increase of INR 300/t recorded in Ahmedabad market, where prices reached INR 41,800/t. Meanwhile, prices marginal drop seen in Raipur market by INR 50/t to INR 38,950/t.
Rebar (Fe 500) prices increased by INR 100-300/t across locations. The steepest rise of INR 300/t was recorded in Hyderabad to INR 45,000/t.
Trading activity across most markets remained low to moderate today. In the finished steel and semi-finished steel segment, buyers largely refrained from aggressive procurement, opting instead for need-based purchases. However, given that strong bookings previously had reduced selling pressure, sellers were able to maintain stable prices or increase spot offers. Prices are expected to remain volatile during the current 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 13,200/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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