India’s induction furnace (IF) steel market witnessed dull sentiments today, and mills reduced offers by INR 50-400/tonne (t) d-o-d on 5 Jun 2025.
Sponge iron offers dropped by INR 50-150/t d-o-d, with a steep fall in the Raipur, Raigarh and Durgapur market of INR 150/t.
Billet tags decreased by INR 50-200/t d-o-d across locations and the sharpest fall in Mumbai, Mandi and Raipur market of INR 200/t.
Rebar (Fe 500) tags saw erosion of INR 100-400/t d-o-d. Prices dropped the steepest in Jalna, by INR 400/t.
Today sluggish buying activities were seen. Buyers resisted procuring material in bulk. Sales were dull, especially in finished steel, since last couple of days owing to increased inventory pressure and raw material volatility. Market participants expect prices to remain under pressure in the short term.
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BigMint’s price assessment (region-wise)
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