India’s induction furnace (IF) steel market witnessed subdued activity today, with mills reducing offers by INR 50-600/tonne (t) d-o-d on 6 August 2025.
Sponge iron offers dropped by INR 50-400/t d-o-d, with a steep fall of INR 400/t seen in the Jharsuguda market. Only in the Hyderabad cluster prices moved up slightly by INR 100/t.
Billet tags inched lower, by INR 50-500/t d-o-d, with the steepest fall of INR 500/t witnessed in the Raigarh market.
Rebar (Fe 500) tags moved down by INR 100-600/t d-o-d. Prices dropped in Raigarh by INR 600/t. Only in Mumbai prices inched up by INR 200/t.
Today in the spot market, buying interest was weak. Most buyers shifted into a wait-and-watch stance, limiting bulk procurement. Manufacturers opted to either trim their offers or adjust trade discounts based on prior bookings and payment terms. In the near term, prices are expected to move within a narrow band.
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BigMint’s price assessment (region-wise)
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