- Prices rise but buyers show lack of interest
- Market expects tags to remain range-bound
India’s induction furnace (IF) steel prices increased d-o-d on 20 February 2025. Across markets, mills raised their offers by INR 100-400/tonne (t) compared to the previous trading session.
Sponge iron offers rose by INR 100-400/t across the locations except in Bellary market where price inch down by INR 100/t.
Billet tags moved up by INR 100-300/t d-o-d, with the steepest increase of INR 300/t noted in the Chennai and Jalna regions.
Rebar (Fe 500) offers climbed up by INR 200-300/t d-o-d. The sharpest hike of INR 300/t was observed in most of the locations such as Mumbai, Raipur, Raigarh, Durgapur and Rourkela markets.
Today, limited trade activities were seen amid increasing prices. Mills tried to push the market, but buyers showed a lack of interest, owing to unclear trends in raw material prices. As per market participants, prices are likely to hover at these levels in the near future.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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