- Market sees subdued buying, prices fall
- Buyers expect further price drops soon
India’s induction furnace (IF) steel market witnessed negative sentiments today, with mills reducing offers by INR 50-450/tonne (t) d-o-d.
Sponge iron prices decreased by INR 50-200/t d-o-d, with the sharpest fall of INR 200/t seen in the Ramgarh market.
Billet tags declined by INR 50-450/t d-o-d, with the steepest drop of INR 450/t seen in the Ramgarh cluster.
Rebar (Fe 500) prices decreased by INR 100-200/t d-o-d. Prices dropped the highest in Jaipur, Raipur, and Raigarh, by INR 200/t.
The market experienced subdued buying today, with prices trending down and trading volumes remaining low. Buyers largely maintained a cautious approach and refrained from making any significant moves, expecting further declines in prices.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
Leave a Reply