India’s induction furnace (IF) steel prices declined d-o-d on 5 February 2025. Across markets, mills reduced their offers by INR 50-500/tonne (t) compared to the previous trading session.
Sponge iron prices dropped by INR 100-300/t d-o-d, with the steepest fall of INR 300/t seen in the Jharsuguda region.
Billet tags dropped in the range of INR 50-500/t d-o-d with the major decrease of INR 300/t seen in the Hyderabad market.
Rebar (Fe 500) offers decreased by INR 100-500/t d-o-d; the sharpest decline was recorded in Ahmedabad.
Today, market activities remained slow and a lower volume of transactions were heard concluded. Buyers were employing caution while procuring material amid sluggish demand in the finished steel segment over the past couple of days. As per market participants, prices are likely to move in a narrow range in the short term.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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