India’s induction furnace (IF) steel market witnessed negative sentiments today, with mills reducing offers by INR 100-600/tonne (t) d-o-d on 23 April 2025.
Sponge iron prices decreased by INR 100-350/t d-o-d, with the sharpest fall of INR 350/t seen in the Raigarh and Raipur markets.
Billet tags declined by INR 150-600/t d-o-d, with the steepest drop of INR 600/t seen in the Hyderabad cluster and a significant increase in Goa market by INR 500/t.
Rebar (Fe 500) prices decreased by INR 100-600/t d-o-d. Prices dropped the highest in Rourkela, by INR 600/t, but increased slightly in Chennai by INR 100/t.
Overall, the market observed a seesaw price trend in both semis and finished longs segments. Spot trades were moderate as major buying activity was not seen today. Transactions in most regions remained stable, with minimal changes in prices.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
Leave a Reply