- Soft demand weighs on spot prices
- IF rebar prices edge down across markets
India’s induction furnace (IF) steel prices fell on 8 January 2026 due to subdued demand in most regions.
Sponge iron offers fell by INR 200-500/t d-o-d, with the steepest drop of INR 500/t in Raigarh, Hyderabad and Bellary regions, where prices settled at to INR 23,100/t, INR 25,100/t and INR 25,000/t respectively.
Billet prices dropped within the range INR 150-500/t d-o-d across locations, with the steepest fall of INR 500/t heard in Mumbai and Ahmedabad, where prices settled at INR 42,500/t and 43,500/t respectively.
Rebar (Fe 500) prices decreased by INR 100-600/t d-o-d. Prices decreased the highest in Ahmedabad, Mumbai and Raipur by INR 600/t to INR 48,700/t, INR 48,200/t and INR 43,000/t respectively.
Trading was subdued, with most market participants staying on the sidelines. Despite reduced spot offers, buying interest failed to revive meaningfully today. Muted demand in the finished steel segment over the past three-four days prompted buyers to maintain a cautious stance. The persistent correction in finished steel prices continued to exert pressure, with expectations of further price correction.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 15,800/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
Leave a Reply