- Buyers show lack of interest at higher prices
- Cautious sentiment emerges in the market
India’s induction furnace (IF) steel market witnessed dull sentiments on 28 March 2025, and mills reduced offers by INR 50-400/tonne (t) d-o-d.
Sponge iron offers dropped by INR 100-250/t d-o-d, with the steepest fall of INR 250/t seen in the Raigarh market.
Billet tags decreased by INR 50-500/t d-o-d, with the sharpest decline of INR 500/t taking place in Chaennai and Hyderabad markets.
Rebar (Fe 500) offers declined by INR 100-400/t d-o-d with the major fall in Raipur market by INR 400/t.
Today, dull inquiries were observed in the spot market. Buyers showed a lack of interest in procuring material at higher prices and adopted a cautious stance with the financial year closing. As per market participants, prices are expected to be volatile in the near term.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
Leave a Reply