India’s induction furnace (IF) steel market witnessed dull sentiments today, and mills reduced offers by INR 100-500/tonne (t) d-o-d on 29 May 2025.
Sponge iron offers dropped by INR 100-300/t d-o-d, with a steep fall in the Jharsuguda market of INR 300/t.
Billet tags decreased by INR 100-350/t d-o-d across locations.
Rebar (Fe 500) tags moved down by INR 100-500/t d-o-d. Prices dropped the highest in Hyderabad, by INR 200/t.
Today, market activities were slow, with a lower volume transacted. Mills either offered discounts or preferred to reduce offer prices to liquidate material. As per market participants, prices will remain volatile in the near term.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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