- Mills reduce offers by INR 100-600/t
- Billets decreased by INR 100-500/t
India’s induction furnace (IF) steel market witnessed negative sentiments today, with mills reducing offers by INR 100-600/tonne (t) d-o-d on 21 April 2025.
Sponge iron prices decreased by INR 150-450/t d-o-d, with the sharpest fall of INR 450/t seen in the Raigarh market.
Billet tags declined by INR 100-500/t d-o-d, with the steepest drop of INR 500/t seen in the Rourkela cluster.
Rebar (Fe 500) prices decreased by INR 100-600/t d-o-d. Prices dropped the highest in Durgapur, by INR 600/t but also saw a 100/t increase in the Raigarh region.
The overall market remained volatile throughout the day, but just before evening, news of an import duty led to active buying across the region, as traders rushed to make purchases ahead of the expected price hike.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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