India’s induction furnace (IF) steel market witnessed dull sentiments today, and mills reduced offers by INR 100-500/tonne (t) d-o-d on 3 Mar 2025.
Sponge iron offers fell by INR 100-300/t d-o-d, with a steep fall of INR 300/t seen in the Hyderabad and Bellary market.
Billet tags decreased by INR 50-300/t d-o-d, with the major drop of INR 300/t in Mandi, Raipur and Durgapur markets except in Chennai where prices increased by INR 200/t.
Rebar (Fe 500) tags decreased by INR 100-500/t d-o-d. Prices dropped the highest in Durgapur, by INR 300/t.
Today, dull buying enquiries were seen in the spot market. Buyers preferred to book material as per immediate needs and suppliers preferred to either reduce offers or adjust trade discounts. Market participants expect prices to move within a limited range in the short term.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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