- Market sees limited buying amid bearish sentiment
- Participants turn cautious amid market uncertainties
India’s induction furnace (IF) steel market witnessed bearish sentiments today, with mills’ offers falling by INR 100-500/tonne (t) d-o-d.
Sponge iron prices decreased by INR 100-300/t d-o-d. Prices dropped the highest in Ramgarh and Raigarh by INR 300/t.
Billet tags decreased by INR 100-500/t d-o-d, with the sharpest fall of INR 500/t seen in Hyderabad.
Rebar (Fe 500) prices decreased by INR 100-500/t d-o-d. The steepest decline of INR 500/t was observed in Rourkela.
Limited buying activity was observed in the spot market today, with participants adopting a cautious approach amid uncertainty regarding market direction. No major buying activity was recorded, reflecting weak demand and prevailing negative sentiment. As a result, prices continued to trend downward.
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BigMint’s price assessment (region-wise)
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