- Price rally continues across markets
- Trade activity remains slightly limited
India’s induction furnace (IF) steel prices surged d-o-d on 28 January 2025. Across markets, mills raised their offers by INR 50-500/tonne (t) compared to the previous trading session.
Sponge iron prices rose by INR 50-500/t d-o-d, with the steepest increase seen in the Hyderabad and Bellary markets.
Billet tags climbed up by INR 50-300/t d-o-d, with the highest rise of INR 300/t recorded in the Raipur region except in Durgapur and Rourkela regions where prices slight down by INR 50/t and INR 100/t respectively.
Rebar (Fe 500) offers moved up by INR 100-500/t d-o-d, with the sharpest hike of INR 700/t observed in the Hyderabad cluster.
Today, the market witnessed positive movements, with the price rally from yesterday continuing. However, trading activity was still relatively limited, and regional variations in demand were observed. Looking ahead, market participants expect mills to keep prices on the higher side, but this would also depend, to a great extent, on the volumes sold.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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