The Indian Steel market is experiencing a sustained downtrend across both semi-finished and finished long products. Due to weak demand in the construction and manufacturing sectors, there has been a continuous decline in prices, aggravated by seasonal monsoon disruptions and cautious buying ahead of the festive season.

IF-route rebar prices continued to face pressure from sluggish demand, inventory buildup, and a lack of fresh orders, resulting in weekly declines of ₹200–800 per ton. Rebar (Fe 500) price as on 30th August 2025 was assessed at ₹39,500 per ton, marking a ₹200 per ton drop week-on-week and a more substantial monthly decline of ₹700–800 per ton. Similarly, Rebar (Fe 500 D) price also registered a weekly decrease of ₹300 per ton and a ₹500–600 per ton fall m-o-m basis, with prices assessed at ₹42,700 per ton as of 30th August 2025.

In Raipur, domestic billet prices also traded lower by ₹200–300 per ton at about ₹36,500 per ton. Billet prices in Mumbai remained unchanged at ₹39,300 per ton. However, there continued to be some weakness in sponge iron prices in major markets as prices fell ₹150 to ₹700 per ton due to limited procurement in the market.

Outlook:

Market participants are somewhat optimistic given that they widely believe that prices may stabilize or recover in the near future as monsoon conditions pass and construction activity resumes, especially in northern and western regions. Besides this, the end of the festive period is expected to provide clearer signals on demand, and with infrastructure and real estate projects likely to regain traction. However, any increase in price will depend on the duration of recovery in demand, liquidity in the market, and stability of raw material prices.