- Prices remain stable with mild uptick in key regions
- Requirement-driven buying amid cautious market sentiment
India’s sponge iron prices remained largely stable on 1st of May 2026, with a mild increase of INR 50-100/t observed in the central and eastern regions. In the key Raipur market, prices rose by INR 100/t to INR 25,800/t ex-works.
Buying activity remained low to moderate today, primarily impacted by a regional holiday, which kept market participation limited across most regions. Buyers largely stayed on the side lines, with bidding observed at very low levels. Meanwhile, sellers attempted to hold their offer prices, limiting downward movement. Procurement was largely requirement-driven, leading to overall softer offtake levels.
Demand in the finished and semi-finished steel segments remained subdued, with limited buying interest and slower movement in downstream markets. This cautious sentiment weighed on overall trading activity, as buyers restricted purchases to essential volumes only.
BigMint recorded trade volumes of around 12,700 t, compared to approximately 10,000 t in the previous session, indicating largely stable market activity. No significant change in volumes was observed compared to yesterday, suggesting steady participation and consistent procurement levels across the market.
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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