- Limited inquiries, need-based buying seen
- Mills trim offers, raise trade discounts
India’s induction furnace (IF) steel market witnessed dull sentiments today, and mills reduced offers by INR 50-650/tonne (t) d-o-d on 19 February 2025.
Sponge iron offers dropped by INR 50-650/t d-o-d, with a steep fall in the Ramgarh market by INR 650/t.
Billet tags decreased by INR 100-150/t d-o-d across the locations except in Mumbai market where prices slight up by INR 200/t.
Rebar (Fe 500) tags moved down by INR 100-200/t d-o-d. Prices dropped the highest in Raipur and Durgapur, by INR 200/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)
Leave a Reply