- Need-based trade activity weighs on prices
- Producers reduce offers or adjust discounts
India’s induction furnace (IF) steel market witnessed subdued activity today, with mills reducing offers by INR 100-500/tonne (t) d-o-d on 8 August 2025.
Sponge iron offers dropped by INR 100-200/t d-o-d, with a steep fall of INR 200/t seen in the Chennai market. Only in the Durgapur cluster did prices move up slightly by INR 100/t.
Billet tags inched lower, by INR 100-500/t d-o-d, with the steepest fall of INR 500/t witnessed in the Hyderabad market.
Rebar (Fe 500) prices moved down by INR 100-500/t d-o-d. The steepest drop of INR 500/t was seen in Hyderabad. Only in Mumbai and Raipur, prices inched up by INR 100/t.
Today, limited trade activities were seen, which varied location-wise. In many regions, buyers preferred to book material as per their needs only. Manufacturers opted to either trim their offers or adjust trade discounts based on prior bookings and payment terms. In the near term, prices are expected to move within a narrow band.
The conversion spread from sponge iron (PDRI) to billets for the standalone induction furnaces in the Raipur cluster was INR 13,100/t.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
Leave a Reply