- Trading moderate today, purchases limited to immediate needs
- Prices likely to remain firm these week
India’s induction furnace (IF) steel prices showed mixed-trends d-o-d on 6 October 2026.
Sponge iron prices moved within the range INR 50-200/t d-o-d, with the sharpest hike of INR 200/t recorded in Raigarh where prices reached INR 28,850/t.
Billet prices rose by INR 50-500/t d-o-d across locations, with the highest increase of INR 500/t seen in Ahmedabad to INR 48,300/t.
Rebar (Fe 500) prices remained unchanged in most markets. However, prices sharply increased in Raipur and Raigarh by INR 700/t and INR 1,000/t to INR 48,900/t and INR 48,500/t respectively.
Today, prices increased due to improved booking activity in the late evening hours of yesterday’s trading session in both semi-finished and finished steel, which encouraged sellers to slightly raise their offers. However, trading activity remained low-to-moderate today, with procurement primarily restricted to immediate requirements.
Prices are expected to remain firm this week, supported by strong raw material prices.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 16,400/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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