Steel Market Trend – 07 May 2025

🔹 Global Market (China):

The ferrous metal chain saw overnight gains. Iron ore, HRC, stainless steel, and rebar traded higher, while coking coal and coke sectors declined.

🔹 Domestic Market (Mandi):

After a drop in prices yesterday, ingot and old scrap are showing a stable trend today.

Ingot Trading Range: ₹42,200 – ₹43,000/ton

🔹 Secondary Steel Markets:

Due to weak demand, secondary steel prices declined yesterday. However, primary TMT market remained stable.

Key Markets: Mandi Gobindgarh, Delhi, Gujarat, Raipur, Durgapur, Hyderabad, Jalna, Nagpur, etc.

🔹 Expert View:

According to market experts, a slight recovery is expected today in ingot and old scrap prices.