- Limited demand owing to elevated offers
- Need-based buying continues across
India’s sponge iron market witnessed mixed price movements on 10 July 2025, with spot offers varying across regions. Pellet-based sponge iron remained largely stable with slight fluctuations, while lumps-based sponge iron in Ramgarh, Mandi Gobindgarh, and Raigarh registered a price increase of INR 100-200/tonne (t).
Despite elevated offers, participants showed limited interest in procurement, citing substantial bookings already done at lower price levels in the previous trading sessions. Manufacturers, however, maintained firm pricing, citing supply tightness and concerns over the availability of quality raw materials.
Market Activity
- Demand remained moderate, with most buyers engaging in need-based purchases only.
- Approximately 3,450 t deals were concluded, significantly lower than the 13,210 t recorded on 9 July, reflecting restrained buying momentum amid continued weakness in the finished steel segment.
Rationale
Prices have been derived based on data sets of transactions, offers, bids, and indicative prices. Transactions are considered as T1 and given a weightage of 50%, whereas other data sets are considered T2 and given a weightage of the balance 50%.
Click here for detailed methodology
Leave a Reply