India’s induction furnace (IF) steel market witnessed dull sentiments today, and mills reduced offers by INR 50-400/tonne (t) d-o-d on 13 June 2025.
Sponge iron offers dropped by INR 100-150/t d-o-d, with a steep fall in the Raigarh and Raipur market of INR 150/t. Only in Bellary and Hyderabad market where prices increased by INR 50 and 100/t respectively.
Billet tags decreased by INR 50-400/t d-o-d across locations. The sharpest fall was in Jalna market of INR 400/t.
Rebar (Fe 500) tags moved down by INR 100-300/t d-o-d. Prices dropped the highest in Mumbai, by INR 300/t.
Today, inquiries were limited in the spot market. Buyers undertook need-based procurement, and consequently, mills reduced offers or increased trade discounts. Market participants expect prices to hover within a limited range in the short term.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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