- Spot market sees need-based buying
- Mills trim offers, raise trade discounts
India’s induction furnace (IF) steel market witnessed dull sentiments today, and mills varied offers by INR 50-200/tonne (t) d-o-d on 28 May 2025.
Sponge iron tags varied by INR 100-200/t d-o-d, with a steep fall in the Bellary and Hyderabad market by INR 100/t.
Billet prices decreased by INR 50-100/t d-o-d across the locations except in Mumbai, where tags were up slightly by INR 100/t.
Rebar (Fe 500) tags moved down by INR 100-200/t d-o-d. Prices dropped the highest in Delhi and Chennai, 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)
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