- Sponge iron demand remains subdued
- Buyers cautious amid price correction
Sponge iron prices across India fell by INR 100-350/tonne (t) d-o-d on 28 November 2025 as weak market sentiment persisted amid subdued finished steel demand. This drop in demand limited sponge iron procurement, with buyers showing little urgency to replenish inventories.
Most buyers continued to adopt a cautious, wait-and-watch stance, anticipating further price correction before committing to bulk purchases. Transactions were largely need-based, and no significant bookings were reported during the day.
Sellers attempted to revive buying interest through modest price adjustments, but the lack of strong demand in recent days has forced many to trim their offers. Despite these reductions, buyers remained reluctant adding to the overall sluggishness in trade activity.
Pan-India trade volumes were very low today. In the raw material segment, pellet prices in Raipur stayed firm at INR 9,550/t exw, reflecting stable sentiment even as sponge iron prices faced continued pressure.
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%.
Click here for detailed methodology
Leave a Reply