Iron Market Trend – 08 May 2025

🔸 International Market (China):

The ferrous metal chain witnessed an overall decline overnight. Iron ore, HRC, stainless steel, rebar, coking coal, and coke all showed weakness.

🔸 Domestic Market (Mandi):

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

Ingot Trading Range: ₹42,200 – ₹42,800/ton

🔸 Secondary Steel Markets:

Prices fell further by ₹100–₹400 yesterday. Demand remains weak, and buyers are in a “wait and watch” mode.

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

🔸 Expert View:

Market analysts suggest that the trend for ingot and old scrap remains bearish today as well.