- Limited buying activities observed d-o-d
- Robust orders urge sellers to keep prices firm
India’s induction furnace (IF) steel prices surged d-o-d on 7 April 2026.
Sponge iron offers fluctuated in the range of INR 100-400/t d-o-d, with the sharpest rise of INR 400/t seen in Ramgarh, where prices settled at INR 28,300/t. However, prices fell in Bellary location by INR 150/t and price stands at INR 29,350/t
Billet prices increased by INR 200-900/t d-o-d across locations, with the steepest rise of INR 900/t recorded in Ahmedabad, where prices reached INR 49,700/t.
Rebar (Fe 500) prices gained INR 100-400/t d-o-d. Prices rose by INR 400/t in Raigarh to INR 48,100/t.
Today, limited buying was seen in the spot market. Although manufacturers kept their offers on the higher side amid strong booking orders over the last couple of days in the semi-finished and finished segments. Additionally, reduced inventory pressure and smooth offtake prompted sellers to increase their offers. Prices are likely to remain firm this week.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 16,000/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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