- Market sentiment stays mildly positive, caution prevails
- Prices increase by INR 100-250/t amid limited enquiries
India’s sponge iron market recorded modest price gains within the range of INR 100-250/tonne (t) across most markets on 14 November 2025, extending the upward trend seen earlier in the week. However, the Durgapur market bucked the trend, registering a marginal decline of INR 100/t, as muted demand and limited inquiries weighed on local sentiment.
Sellers across key regions raised offers in line with the recent recovery in semi-finished steel prices, but the overall market mood remained cautious and uncertain. Buyers, supported by adequate inventory levels, refrained from aggressive procurement and restricted purchases to need-based deals. This lack of urgency kept demand soft amid higher quoted prices.
Market participants said volatility still prevails prompting a wait-and-watch approach. Mills that had secured sizeable bookings earlier in the week were reluctant to enter into fresh contracts at higher prices in anticipation of clearer pricing directions to emerge in the coming days.
Trade update
The market saw a sharp drop in trade volumes, with total transactions estimated at around 11,000 t, significantly lower than 28,000 t recorded in the previous session. The decline reflected buyers’ reluctance to commit to higher prices amid uncertain near-term sentiment.
Pellet prices in Raipur remained steady at INR 9,600/t exw, indicating balanced supply-demand conditions in the raw material segment despite the slowdown in sponge iron booking
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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