India’s induction furnace (IF) steel prices declined d-o-d on 17 February 2025. Across markets, mills reduced their offers by INR 100-400/tonne (t) compared to the previous trading session.
Sponge iron prices dropped by INR 150-400/t d-o-d, with the steepest fall of INR 400/t seen in the Raigarh region.
Billet tags dropped in the range of INR 100-300/t d-o-d with the major decrease of INR 300/t seen in the Hyderabad and Ahmedabad markets.
Rebar (Fe 500) offers decreased by INR 100-500/t d-o-d and the major drop was seen in Hyderabad and Delhi.
Today, market activities remained slow and a lower volume of transactions was concluded. Mills were giving discounts depending upon payment and delivery terms to liquidate their materials. As per market participants, prices are likely to remain under pressure in the near term.
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BigMint’s price assessment (region-wise)
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