- Prices stay stable or fall slightly; buying need-based
- Durgapur sees stronger trade amid localised demand
India’s sponge iron prices remained largely stable to slightly downward across regions on 28 April 2026, with a few markets recording declines of INR 50-300/t while most remained steady. In the benchmark Raipur market, prices fell by INR 150/t to INR 25,750/t ex-works.
Buying activity remained low to moderate during the day, with procurement largely restricted to need-based requirements, particularly in the central and southern regions. In contrast, the eastern market, especially Durgapur, witnessed relatively better buying activity, supported by localised demand.
In the downstream segments, demand in the semi-finished market stayed muted, though the finished steel segment witnessed moderate buying interest. This kept overall sentiment in the sponge iron market on the softer side.
BigMint recorded trade volumes of around 7,300 t, compared to approximately 10,200 t in the previous session, indicating a decline in market activity. The drop in volumes reflects weaker buying interest and relatively lower participation from market players.
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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