- IF mills raise prices by up to INR 1,000/t
- Safeguard duty spurs rally across materials
India’s induction furnace (IF) steel market witnessed an upward price trend today. Offers across mills rose by INR 1,000/tonne (t) d-o-d on 22 April, 2025.
Sponge iron prices upped by INR 200-600/t. Prices rose by INR 600/t in the Raigarh, Durgapur and Bellary markets.
Billet prices increased by INR 200-1,000/t. The Hyderabad market saw a surge of INR 1,000/t today.
In addition, rebar (Fe 500) offers rose in the range of INR 200-1,000/t. Prices in Hyderabad spurted at the higher end of the spectrum, by INR 1,000/t d-o-d.
Following the imposition of the 12% import duty, the steel market, especially the finished longs (rebar) segment, witnessed moderate demand across regions. With prices rising throughout the region, steel prices strengthened significantly in key markets, BigMint noted.
Click here for rebar brand-wise details
BigMint’s price assessment (Region wise)
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