- Active buying seen today, mills hike offers by INR 100-600/t
- Prices likely to supportive in the near term
India’s induction furnace (IF) steel market witnessed active buying on 31 March 2025, and mills raised offers by INR 100-600/tonne (t) d-o-d.
Sponge iron offers rose by INR 100-400/t d-o-d, with the major hike of INR 400/t seen in the Durgapur market.
Billet tags increased by INR 150-600/t d-o-d, with the sharpest rise of INR 600/t taking place in Raigarh market.
Rebar (Fe 500) offers surged by INR 100-500/t d-o-d with the major upside of INR 500/t seen in the Durgapur market.
Today, moderate trade activities were observed, driven by increased prices. Buyers actively procured materials, with varying demand seen across locations. Participants are optimistic about market conditions in the near term.
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BigMint’s price assessment (region-wise)
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