India’s induction furnace (IF) steel prices increased on 24 January 2025. Across markets, mills raised their offers by INR 100-300/tonne (t) compared to the previous trading session.
Sponge iron prices rose by INR 150-300/t d-o-d, with the steepest increase seen in the Hyderabad, Bellary and Ramgarh regions.
Billet increased by INR 150-250/t d-o-d, with the highest rise of INR 250/t recorded in the Raipur market.
Rebar (Fe 500) offers increased by INR 100-300/t d-o-d, with the sharpest hike of INR 300/t observed in the Jalna cluster.
Today also prices surged and limited trade activities were observed at current prices due to back support from raw materials and moderate booking volumes were seen in last trading session. As per market participants, prices likely to remain rangebound in the near term.
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BigMint’s price assessment (region-wise)
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