India’s induction furnace (IF) steel market witnessed dull sentiments today, and mills reduced offers in the broad range of INR 100-800/tonne (t) d-o-d on 7 April 2025.
Sponge iron offers dropped by INR 300-600/t d-o-d, with a steep fall of INR 600/t in the Durgapur market.
Billet tags decreased by INR 200-700/t d-o-d across locations and major downside in Mumbai market by INR 700/t.
Rebar (Fe 500) tags moved down by INR 100-800/t d-o-d. Prices dropped the highest in Delhi market by INR 800/t.
Today, the market remained slow and lower transactions were concluded. Buyers were cautious about procuring material amid sluggish demand for finished steel over the past few days. Market participants expect prices remain volatile in the near term.
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BigMint’s price assessment (region-wise)
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