Steel Market Update – 6th May 2025

International Market:

After the holiday, China’s DCE iron ore futures showed repeated fluctuations. The most traded contract I2509 finally closed at 704.5, unchanged from the pre-holiday level.

SS futures continued to show volatility. Traders sold material based on market conditions with limited futures transactions, and steel mills made purchases only as needed.

Domestic Market:

• Prices of MS Ingot and Old Scrap (Mandi Gobindgarh) have dropped by around ₹100.

• Secondary TMT prices have continued to fall today, down by ₹200–₹600.

• Primary TMT demand remains weak, keeping pressure on prices.