- Central, eastern regions lead price gains, south stays flat
- Ample stocks with buyers lead to limited fresh inquiries
India’s sponge iron prices rose by INR 100-400/tonne (t) d-o-d across major producing regions on 4 November 2025. The steepest increase was seen in Ramgarh, where CDRI prices surged by INR 400/t, while Bellary saw a marginal drop of INR 100/t amid weak demand.
Market sentiment remained mildly positive, as sellers raised offers following improved price trends in recent sessions. However, adequate inventories with buyers kept fresh inquiries limited. Most offers hovered at the higher end of the range, but trading activity remained subdued, with only need-based deals taking place. The overall tone stayed weak and uncertain, as participants adopted a wait-and-watch stance amid volatility in the steel market.
The central and eastern regions continued to lead the uptrend, supported by improved sentiment from previous sessions. In contrast, southern India remained largely stable, constrained by muted demand and limited buying inquiries. Both semi-finished and finished steel segments also witnessed weak demand, weighing on overall market activity.
Daily sponge iron trade volumes were assessed at around 6,400 t, slightly down from the 6,500 t recorded in the previous session, amid weak offtake. Meanwhile, pellet prices in Raipur witnessed a marginal rise, settling at INR 10,000/t DAP, reflecting a balanced sentiment in the raw material market.
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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