- Sluggish buying inquiries amid festive season ahead
- Lower transaction volume recorded today
India’s induction furnace (IF) steel prices declined d-o-d on 12 March 2025. Across markets, mills reduced their offers by INR 50-250/tonne (t) compared to the previous trading session.
Sponge iron prices dropped by INR 100-250/t d-o-d, with the steepest fall of INR 250/t seen in the Raigarh region.
Billet tags declined by INR 100-200/t d-o-d, with the sharpest drop of INR 200/t seen in the Chennai market. However, in Mumbai, prices inched up by INR 100/t.
Rebar (Fe 500) offers decreased by INR 100-200/t d-o-d and the major fall seen in Chennai and Ahmedabad markets by INR 200/t.
Today, market activities were slow, with a lower volume transacted. Mills offered discounts, depending upon payment and delivery terms, to liquidate their material. As per market participants, sales volumes might be impacted in the near term, owing to the upcoming Holi festival.
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BigMint’s price assessment (region-wise)
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