Iron Market Trend (February 20, 2025)

• China’s Iron Ore Market:

The futures market witnessed fluctuations yesterday. The most traded contract I2505 closed at 820.5, up 1.48% for the day. Steel mills made purchases as per their requirements, while traders sold based on market trends.

• Domestic Market:

• Prices of ingot and old scrap showed a declining trend.

• Estimated trading range for ingot: ₹41,600-42,400 per ton.

• Secondary Steel Market:

• In key markets like Mandi Gobindgarh, Delhi, Gujarat, Raipur, Raigarh, Durgapur, Jalna, Rourkela, Hyderabad, Jammu, Jaipur, Ghaziabad, Muzaffarnagar, Bhiwadi, Patna, Jharkhand, Bangalore, Goa, Bhopal, Indore, Nagpur, etc., TMT demand remains weak, leading to a continuous decline.

• This downward trend is expected to persist throughout the week.

• Expert Opinion:

• The trend for ingot and old scrap remains positive.