India’s induction furnace (IF) steel prices increased d-o-d on 17 March 2025. Across markets, mills raised their offers by INR 50-200/tonne (t) compared to the previous trading session.
Sponge iron offers rose by INR 50-200/t d-o-d, with the sharpest hike of INR 200/t seen in the Hyderabad market.
Billet tags varied by INR 50-250/t d-o-d, with the steepest increase of INR 200/t noted in the Raipur cluster whereas the Mumbai market saw prices declining by INR 100/t.
Rebar (Fe 500) offers increased by INR 100-200/t in major locations except in Rourkela where prices decreased by INR 100/t.
Today, limited trade activities were seen in the spot market. Mills tried to drive the market in some regions, but buyers showed a lack of interest, owing to unclear trends in raw material prices. As per market participants, prices are likely to hover at similar levels in the near term.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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