- Prices rise amid aggressive bookings on last weekend
- Robust orders to push sellers to keep prices firm
India’s induction furnace (IF) steel prices surged d-o-d on 6 April 2026, driven by strong bookings on Saturday (4 April).
Sponge iron offers rose in the range of INR 200-550/t d-o-d, with the sharpest rise of INR 550/t seen in Ramgarh, where prices settled at INR 27,900/t.
Billet prices increased by INR 200-1,300/t d-o-d across locations, with the steepest rise of INR 1,300/t recorded in Jalna, where prices reached INR 47,500/t.
Rebar (Fe 500) prices gained INR 200-1,100/t d-o-d. Prices rose by INR 1,100/t in Mandi to INR 53,000/t.
Prices strengthened d-o-d across commodities today. However, buyers adopted a need-based procurement strategy, specifically in the finished steel segment, having already procured material aggressively last weekend. Reduced inventory pressure on mills and manufacturers further supported the upward momentum. Sellers received a high volume of orders over the last three days, which prompted them to increase offers across segments.
BigMint expects sellers to keep offers firm due to limited inventory pressure on sellers, which will keep prices supported this week.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 15,700/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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