- Subdued trade activity amid cautious buyer sentiment
- Prices anticipating to remain volatile these week
India’s induction furnace (IF) steel prices fell on 6 January 2026 due to subdued buying in most regions.
Sponge iron offers fell by INR 100-300/t d-o-d, with the steepest drop of INR 300/t to INR 26,400/t in Hyderabad.
Billet prices dropped by INR 100-800/t d-o-d across locations, with the steepest fall of INR 800/t to INR 44,000/t in Ahmedabad.
Rebar (Fe 500) prices decreased by INR 100-500/t d-o-d. Prices decreased the highest in Rourkela and Raigarh, by INR 500/t to INR 42,800/t and INR 43,000/t respectively.
Lower trading volumes were observed today in both the finished steel and semi-finished segments, reflecting cautious buying behavior amid elevated price levels. Trading activity remained largely need-based, as buyers had already procured material over the past 2 weeks. Additionally, the lack of fresh bookings in the finished steel segment noticed at current price levels. As per current scenario, prices expecting to remain volatile these week.
The conversion spread from sponge iron (PDRI) to billets for 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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