- Buyers stay on sidelines, engage in need-based purchases
- Prices likely to remain under pressure this week
India’s induction furnace (IF) steel prices fell d-o-d across regions on 6 August 2026.
Sponge iron prices decreased by INR 50-300/t d-o-d. Prices fell by INR 300/t in Jharsuguda to INR 24,200/t.
Billet prices fell by INR 50-300/t d-o-d across locations, with the highest decrease of INR 300/t recorded in Jalna and Ahmedabad, where prices reached INR 40,700/t and INR 41,500/t respectively.
Rebar (Fe 500) prices dropped by INR 100-300/t d-o-d. Prices fell by INR 300/t in Jalna to INR 44,700/t.
Market sentiment remained weak as buyers adopted a cautious stance. Trading activity stayed largely subdued, with procurement limited to immediate requirements amid slow market 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. As per the current scenario, unless sales activities improve significantly, mills are expected to continue offering discounts to liquidate inventories across commodities.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 13,150/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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