India's steel sector is closing 2025 on a muted note, but forecasters see demand improving in the year ahead. A quiet year-end — slower construction activity, cautious restocking and soft prices — has kept alloy offtake subdued alongside finished steel. The expected pickup rests on infrastructure spending resuming pace and construction reviving after winter, which would tighten the market for long products and the ferro alloys behind them. For buyers, the window of soft prices may be the calm before procurement gets competitive again.