- IF mills reduce offers by INR 100-500/t d-o-d
- Buyers turn wary, expect further price drop
India’s induction furnace (IF) steel market witnessed negative sentiments today, with mills reducing offers by INR 100-500/tonne (t) d-o-d on 17 April 2025.
Sponge iron prices decreased by INR 150-300/t d-o-d, with the sharpest fall of INR 300/t seen in the Ramgarh market.
Billet tags declined by INR 100-500/t d-o-d, with the steepest drop of INR 500/t seen in the Hyderabad cluster.
Rebar (Fe 500) prices decreased by INR 100-400/t d-o-d. Prices dropped the highest in Raipur and Raigarh, by INR 400/t.
Overall, the market witnessed subdued buying interest, as evidenced by declining prices and sluggish trades. Notably, buyers adopted a wait-and-watch stance, expecting further price declines.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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