- Heavy rainfall dampens spot trading activity
- Buyers on the sidelines, engage in need-based purchases
India’s induction furnace (IF) steel prices fell d-o-d across regions on 6 July 2026.
Sponge iron prices decreased by INR 100-300/t d-o-d, with the sharpest decline of INR 300/t recorded in Jharsuguda, where prices settled at INR 22,400/t.
Billet prices fell by INR 100-700/t d-o-d across locations, with the highest decrease of INR 700/t recorded in Mumbai location, where prices reached INR 40,000/t.
Rebar (Fe 500) prices dropped by INR 100-400/t d-o-d across the locations, with the steepest decline seen in the Raigarh, Raipur, Mumbai and Ahmedabad market of INR 400/t to INR 40,000/t, INR 40,500/t, INR 43,800/t and INR 45,600/t respectively.
Today, prices declined across commodities. Trading activity remained subdued due to heavy rainfall across regions, restricting market movement and limiting spot purchases to immediate requirements. Additionally, the lifting of previously booked material remained slow. These factors compelled sellers to either reduce their offers or provide trade discounts in finished and semi-finished steel.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,900/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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