Iron Market Trend (21 January 2025)

Iron ore futures on Chinese DCE continue to rise, reflecting the rise in demand for iron ore globally.

In the domestic market, the prices of ingot and old scrap are also on an upward trend. The trading range of ingot is expected to be between Rs 41,700 to Rs 42,300 per tonne today. The prices of TMT bars are likely to increase today in secondary steel markets such as Mandi Govindgarh, Delhi, Gujarat, Raipur, Raigarh, Durgapur, Jalana, Rourkela, Hyderabad, Jammu, Jaipur, Ghaziabad, Muzaffarnagar, Bhiwadi, Patna, Jharkhand, Bangalore, Goa, Bhopal, Indore, Nagpur, etc.

According to market experts, ingot and old scrap prices are expected to recover today, reflecting rising demand in the construction and manufacturing sectors. Overall, the iron market has positive trends today, and prices are likely to rise.