- Buyers stay on sidelines, bulk bookings absent
- Manufacturers reduce offers amid dull trading activities
India’s induction furnace (IF) steel prices fell d-o-d across regions on 4 May 2026.
Sponge iron prices decreased by INR 50-300/t d-o-d, with the sharpest decline of INR 300/t recorded in Hyderabad, where prices settled at INR 27,200/t.
Billet prices dropped by INR 150-500/t d-o-d across locations, with the highest decrease of INR 500/t recorded in Hyderabad, where prices reached INR 43,000/t. However, prices rose in Ramgarh by INR 400/t to INR 41,900/t.
Rebar (Fe 500) prices dropped by INR 100-300/t d-o-d. Prices fell by INR 300/t in Chennai to INR 51,500/t.
The market remained cautious and trading was subdued amid weak finished steel sales, with buyers restricting purchases to immediate needs. Manufacturers reduced offers or provided discounts to liquidate material.
Going by current trends, prices may remain volatile in the coming days owing to a lack of order bookings in the finished steel segment.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 16,100/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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