- Bulk purchases absent amid higher offers
- Prices expected to fluctuate in near term
India’s induction furnace (IF) steel market witnessed positive sentiments today, and mills raised offers by INR 100-700/tonne (t) d-o-d on 9 April 2025.
Sponge iron prices increased by INR 100-700/t d-o-d, with the steepest rise of INR 700/t occurring in the Hyderabad market.
Billet tags gained by INR 150-400/t d-o-d and the major hike in Ahmedabad market by INR 400/t. Only in Mandi market where price inched down by INR 100/t.
Rebar (Fe 500) prices increased by INR 200-500/t d-o-d. Prices rose the highest in Raigarh, by INR 500/t.
Today, limited buying activities were observed, as prices increased. Buyers were reluctant to procure material in bulk. Sales were dull, especially in finished steel, though there were regional variations. As per participants, prices are likely to be volatile in the near term.
Click here for brand-wise rebar details
BigMint’s price assessment (region-wise)
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