India’s induction furnace (IF) steel prices trended lower d-o-d on 8 January 2025. Mills reduced offers by INR 100-700/tonne (t) across markets compared to the previous trading session.
Sponge iron prices registered a d-o-d decrease of INR 100-250/t, and the steepest fall was observed in the Raigarh market.
Billet offers dropped INR 200-400/t d-o-d, with the sharpest decline seen in the Mandi and Ahmedabad markets.
Rebar (Fe 500) tags fell by INR 100-700/t d-o-d; the highest drop was recorded in Ahmedabad.
Most domestic hubs remained dull today as buyers adopted a wait-and-watch approach amid the downtrend in steel prices. Sellers informed that they were either adjusting trade discounts or preferring to drop the prices. As per market participants, prices are likely to remain volatile in the near term.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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