India’s induction furnace (IF) steel market witnessed dull sentiments on 27 March 2025, and mills reduced offers by INR 50-300/tonne (t) d-o-d.
Sponge iron offers dropped by INR 50-100/t d-o-d, with a steep fall of INR 100/t seen in the Jharsuguda, Bellary and Raipur markets except in Raigarh market where prices inched up by INR 50/t.
Billet tags decreased by INR 100-250/t d-o-d across locations except in Ramgarh market where marginal price rise by INR 50/t.
Rebar (Fe 500) offers fluctuated by INR 100-300/t d-o-d.
Today, dull inquiries were observed in the spot market. Buyers preferred to book material to fulfill immediate needs. Mills preferred to either reduce offers or adjust trade discounts. Market participants expect prices to move within a limited range in the short term.
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BigMint’s price assessment (region-wise)
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