- Buyers cautious; need-based procurement continues
- Moderate semis, finished steel demand offers limited support
India’s sponge iron market witnessed a mixed price trend across regions on 2 April 2026, with no clear directional movement emerging. Market activity remained subdued, as demand stayed weak and enquiries were noticeably low across key regions.
Buying interest was significantly limited, with most participants refraining from bulk purchases due to persistently elevated price levels. As a result, procurement was largely restricted to immediate, need-based requirements, keeping overall trade volumes under pressure. Market sentiment remained cautious, with buyers continuing to adopt a wait-and-watch approach in anticipation of better price clarity, while sellers held firm amid ongoing cost pressures.
Demand in both the finished and semi-finished steel segments remained moderate, offering limited support to the sponge iron market. With demand visibility still restrained, procurement activity stayed largely need-based, keeping overall market momentum subdued.
Consequently, trade volumes declined sharply to around 2,700 t, compared to approximately 16,800 t in the previous session, indicating weak liquidity, reduced market participation, and subdued 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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