- Most bookings made to fulfil immediate needs
- Weak finished steel sector weighs on spot prices
India’s sponge iron market continued its downtrend on 14 July 2025, with prices dropping by INR 50-300/tonne (t) across major regions. The decline was driven by weak demand, resulting in intra-day price corrections.
Market sentiment remained cautious, with most bookings being need-based and limited to selective procurement by re-rollers and secondary producers. The persistent weakness in the finished steel segment further dampened buying enthusiasm, prompting participants to maintain a conservative stance.
Buyers across key regions expected bearish trends to continue in the near term, as demand for finished steel remains muted. Monsoon-related slowdowns are also impacting overall market momentum and sentiment
Pan-India, approximately 5,200 t of sponge iron were booked today, reflecting a drop from the previous trading session.
Rationale
Prices have been derived based on transactions, offers, bids, and indicative price data sets. Transactions are considered as T1 and given a weightage of 50%, whereas other data sets are considered as T2 and given a weightage of the balance 50%.
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