- Steady price uptrend supported by healthy steel demand
- Good rebound in trade volumes
India’s sponge iron prices increased by INR 100-550/t d-o-d across regions on 7 April 2026, reflecting steady market momentum. Demand remained moderately strong, with buyers continuing to make need-based purchases. Market sentiment stayed stable, as participants maintained a cautious approach while closely monitoring further price trends. Notably, most transactions were concluded at the lower end of the quoted price range, indicating active negotiation and price sensitivity among buyers.
Demand across both finished and semi-finished steel segments remained strong, providing good support to the sponge iron market. Improved demand visibility continued to drive steady procurement activity, thereby underpinning sponge iron prices during the day.
Consequently, trade volumes recorded a significant increase of 13,200 t over the previous session, rising from around 5,100t. This reflects improved liquidity, stronger market participation, and a pickup in overall trading activity.
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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