🔶 Iron Market Report – 02 June 2025

🚨 Trade Tensions

U.S. President Donald Trump has further escalated trade disputes by doubling tariffs on steel and aluminum imports. He also accused China of violating an agreement to reduce tariffs.

This move has increased global market volatility, with investors fearing it could push the U.S. economy toward a recession, especially amid ongoing legal challenges related to the tariffs.

🔹 Domestic Market (Mandi)

Prices of ingots and old scrap declined over the past week.

📉 Weekly ingot price range: ₹41,500 – ₹42,500 per ton.

🔹 Secondary Steel Markets

Key markets like Gobindgarh, Delhi, Gujarat, Raipur, Durgapur, Hyderabad, Jalna, and Nagpur witnessed a downward trend in TMT bar prices last week.

🔹 Expert View

Overall, a bearish trend is prevailing across all major steel segments.

👉 Today, ingot and old scrap prices are likely to remain within a limited range.