Steel Market News Report

Date: April 23, 2025

Price Drop in Secondary Steel

Secondary steel prices witnessed a decline of ₹200 to ₹500 per tonne across key markets today. According to analysts, the primary reason behind the dip is weak demand at elevated price levels. Dealers report a noticeable reduction in trading volumes, adding pressure to the market.

Primary TMT Prices Stable Amid Sluggish Demand

Primary TMT bar prices remain stable for now. However, a drop in inquiry volumes indicates sluggish demand in the market. Industry sources suggest that limited availability, due to maintenance activity at SAIL-DSP (Durgapur Steel Plant), has kept prices elevated despite the fall in buyer interest.

Expert Opinion

The recent imposition of safeguard duties to curb cheap steel imports had triggered a rally in spot steel prices. However, minor corrections were observed today due to profit-booking at higher levels. Experts believe that despite the dip, the overall trend for steel remains positive, with expectations of stability in the near term.

Conclusion

The steel market is currently in a phase of adjustment, seeking equilibrium between demand and supply. A recovery in prices is likely once inquiry volumes pick up and supply stabilizes.

Sources: @Advisory Bazaar Info Team, Market Dealers, Trade Analysts, Industry Updates