- Market slows down, limited deals concluded
- Mills offer discounts to liquidate material
India’s induction furnace (IF) steel prices declined d-o-d on 6 March 2025. Across markets, mills reduced their offers by INR 50-350/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 Raipur region.
Billet tags declined by INR 100-350/t d-o-d, with the sharpest drop of INR 350/t seen in the Raipur market except in Mumbai where prices inched up by INR 100/t.
Rebar (Fe 500) offers varied by INR 100-200/t d-o-d.
Today, market activities were slow, with a lower volume transacted. Mills gave discounts depending upon payment and delivery terms to liquidate their material. As per market participants, prices are likely to remain volatile in the near term.
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BigMint’s price assessment (region-wise)
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