- Buyers engage in need-based procurement
- Mills trim offers, adjusting trade discounts
India’s induction furnace (IF) steel market witnessed dull sentiments today, as offers floated by mills decreased in the range of INR 50-500/tonne (t) d-o-d on 12 February 2025.
Sponge iron offers fluctuated by INR 50-400/t d-o-d.
Billet tags decreased by INR 100-500/t d-o-d. The steepest fall of INR 500/t was seen in Jalna.
Rebar (Fe 500) offers moved down by INR 100-500/t d-o-d. Prices dropped the highest in Raigarh, by INR 500/t. However, Mumbai saw prices inch up by INR 100/t d-o-d.
Today, inquiries were dull in the spot market. Buyers undertook need-based procurement, and consequently, mills reduced offers or increased trade discounts. Market participants expect prices to hover in a rangebound in the short term.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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