India’s induction furnace (IF) steel prices declined d-o-d on 4 February 2025. Across markets, mills reduced their offers by INR 50-300/tonne (t) compared to the previous trading session.
Sponge iron prices dropped by INR 50-300/t d-o-d, with the steepest fall of INR 300/t seen in the Durgapur region.
Billet tags dropped in the range of INR 100-300/t d-o-d with the major decrease of INR 300/t seen in the Rourkela and Raipur market.
Rebar (Fe 500) offers decreased by INR 100-300/t d-o-d, and the sharpest decline was recorded in Delhi market except in Hyderabad where price increased by INR 500/t.
Most domestic hubs remained dull today as buyers adopted a wait-and-watch approach amid the downtrend in steel prices. Sellers informed that they were either adjusting trade discounts or preferring to reduce prices especially in the finished steel segment. As per market participants, prices are likely to remain volatile in the near term.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
Leave a Reply