- Semi-finished steel prices show slight recovery
- Healthy trading activity needed for price stability
India’s induction furnace (IF) steel prices showed mixed trends d-o-d across regions on 8 July 2026.
Sponge iron prices rose INR 100-200/t d-o-d across locations, with the steepest rise of INR 200/t seen in Hyderabad and Bellary markets where prices reached INR 25,700/t and INR 25,000/t respectively.
Billet prices varied by INR 50-500/t d-o-d across locations, with the highest increase of INR 500/t recorded in Hyderabad, where prices reached INR 39,500/t.
Rebar (Fe 500) prices fluctuated in most markets. Prices fell by INR 300/t in Mumbai to INR 43,400/t. However, prices in Hyderabad rose sharply by INR 500/t to INR 43,000/t.
Sales activity remained limited d-o-d. Prices increased in selective locations, supported by moderate bookings in the Semi-finished steel segment. Finished steel prices also witnessed a slight improvement in few regions. However, buyers to procure material cautiously in finished steel segment. If trading activity fails to improve, the current price uptick may not sustain.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was assessed at INR 14,700/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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