- Sponge iron prices rose INR 100-700/t; Raipur settled at INR 27,800/t.
- Trade volume doubled to 16,000t, backed by firm steel prices.
Sponge iron prices rose by INR 100-700/t today, with gains concentrated mainly in the eastern region. In Raipur, prices settled at around INR 27,800/t, up INR 300/t day-on-day, reflecting firm sentiment.
Demand was led by the central and eastern regions, while buying activity remained healthy across the broader market. A rise of INR 100-600/t in finished steel prices further supported purchasing sentiment, encouraging buyers to step up procurement. With raw material costs already at elevated levels, that keeps the overall market on the higher side.
Trading activity also improved notably. Total trade volume in the region reached around 16,000 tonnes, roughly double the previous session’s level, indicating stronger buying participation and renewed market confidence.
Rationale
Prices have been derived based on transactions, offers, bids, and indicative price data sets. Transactions are considered as T1 and given aweightage of 50%, whereas other data sets are considered as T2 and given a weightage of the balance 50%.
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