- Lesser trading activities today as witnessed
- Sponge iron prices varied by INR 50-100/t
India’s induction furnace (IF) steel market witnessed dull sentiments today, and offers from mills fluctuated by INR 100-200/tonne (t) d-o-d on 13 March, 2025.
Sponge iron offers varied by INR 50-100/t d-o-d. A fall of INR 100/t was seen in the Hyderabad and Chennai markets.
Billet offers fluctuated by INR 50-500/t d-o-d across locations.
Rebar (Fe 500) saw a marginal increase of INR 100/t d-o-d in Raigarh and Rourkela markets.
Today sluggish buying enquiries were witnessed owing to the upcoming Holi festival. Buyers resisted procuring material and adopted a wait-and-watch mode which kept trade volumes subdued in the spot markets. As per participants, market conditions would be clear post-Holi.
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BigMint’s price assessment (region-wise)
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