- Market sees need-based procurement
- Mills trim offers, adjust trade discounts
India’s induction furnace (IF) steel market witnessed dull sentiments on 11 March 2025, and mills reduced offers by INR 50-200/tonne (t) d-o-d.
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.
Billet tags decreased by INR 50-200/t d-o-d and the major fall in Mumbai location by INR 200/t.
Rebar (Fe 500) offers fluctuated by INR 100-200/t d-o-d.
Today, dull inquiries were observed in the spot market. Buyers preferred to book material on need basis. Mills preferred to either reduce offers or adjust trade discounts. Market participants expect prices to hover within a limited range in the short term.
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BigMint’s price assessment (region-wise)
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