- Sellers resist deep discounts, buying stays weak
- Trade volumes remain below recent averages
Indian sponge iron prices continued to decline by INR 50-300/tonne (t) d-o-d on 8 October 2025 across key producing regions amid limited inquiries. Most confirmed trades were concluded at lower prices, reflecting persistent caution among buyers and restrained selling by producers.
Market activity remained confined to a narrow range, indicating low confidence. While sellers largely resisted steep discounts in anticipation of stability, this approach failed to stimulate demand, as buyers continued with need-based procurement.
The sustained weakness in finished and semi-finished steel segments further weighed on sentiment.
Daily trade volume was assessed at around 10,000 t, slightly below recent averages, highlighting ongoing hesitation among market participants. With the festive season approaching and no visible improvement in end-user demand, the market is expected to remain under pressure in the near term, with limited upside potential.
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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