- Buyers stay away, having completed purchases earlier
- Semis, finished steel demand remains subdued today
India’s sponge iron prices increased by INR 100-300/t d-o-d across regions on 27 March 2026. However, despite the upward price movement, buying activity remained low to moderate, as most buyers had already completed their procurement in the previous session. This resulted in muted demand and limited fresh enquiries across key markets, with buyers largely adopting a wait-and-watch approach.
Demand from both finished and semi-finished steel segments stayed subdued, weighing on overall market sentiment. With limited demand visibility, procurement activity remained cautious and largely need-based, restricting sponge iron offtake during the day.
Consequently, trade volumes witnessed a sharp decline compared to the previous session, with transactions dropping to around 5,500 t from approximately 20,000 t yesterday.
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
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