- Mills reduce offers amid need-based buying
- Prices likely to be range-bound in near term
India’s induction furnace (IF) steel market witnessed dull sentiments today, and mills reduced offers by INR 50-500/tonne (t) d-o-d on 8 April 2025.
Sponge iron prices varied by INR 50-150/t d-o-d, with a steep fall in the Ramgarh market by INR 150/t.
Billet tags varied by INR 50-500/t d-o-d across locations.
Rebar (Fe 500) prices moved down by INR 100-300/t d-o-d. Prices dropped the highest in Ahmedabad, by INR 300/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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