- Market grabs positive momentum today
- Sponge and Billet prices heads north by INR 600/t in Raipur
India’s induction furnace (IF) steel prices surged on 27 January 2025. Across markets, mills raised their offers by INR 100-700/tonne (t) compared to the previous trading session.
Sponge iron prices rose by INR 200-600/t d-o-d, with the steepest increase seen in the Raipur market.
Billets increased by INR 300-600/t d-o-d, with the highest rise of INR 600/t recorded in the Raipur market.
Rebar (Fe 500) offers increased by INR 100-700/t d-o-d, with the sharpest hike of INR 700/t observed in the Raigarh cluster.
It seems like the market is experiencing some positive momentum, especially with the increase in prices from raw materials like sponge iron and billets to finished segments. The variation in buying enquiries across zones is interesting, as regional demand can really influence price fluctuations. The anticipation of the safeguard duty being implemented is also a key factor, adding some uncertainty but potentially driving prices up in the short term.
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BigMint’s price assessment (region-wise)
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