- Spot prices increase by INR 100-300/t d-o-d
- Raw material prices rise by INR 200/t in Raipur
India’s sponge iron market witnessed an upward price movement on 17 July 2025, with spot offers increasing by INR 100-300/tonne (t) day-on-day across most regions. The rise was primarily driven by tight raw material availability and a recent INR 200/t hike in pellet prices in Raipur, which pushed production costs higher.
Despite the price rise, buying interest remained moderate as many participants had already secured material at lower rates in earlier sessions. However, manufacturers held firm to higher side on offers, citing concerns over raw material scarcity and rising input costs from nearby markets.
Pan-India sponge iron bookings stands at approximately 13,000 t today, slight drop from 22,650 t recorded in the previous session, reflecting limited stocking activity amid cautious buying.
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%.
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