- Prices surge by INR 100-850/t across key regions
- Buyers make cautious purchases amid higher offers
India’s sponge iron market registered a sharp upward movement on 25 July 2025, with spot prices increasing by INR 100-850/tonne (t) d-o-d across major regions. The price surge marks the highest level in the past three months, particularly in the Raipur market, driven by firm offers from producers and continued input cost inflation.
Despite bullish sentiments, buyers adopted a cautious stance, with many already having secured materials earlier this week at competitive rates. Previous bulk bookings supported today’s higher price offers, as manufacturers cited continued cost-push pressure from raw materials and pellet price hikes.
Sellers held firm on elevated offers amid tight supply and rising input costs, despite seeing limited fresh buying today. Approximately 17,950 t sponge iron bookings were reported today, reflecting a notable decrease from 34,400 t recorded in the previous trading session.
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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