- Prices remain under pressure across regions except Raipur
- Lower offers attract buyers, keep trade activity steady
Sponge iron prices across India declined by INR 100-400/tonne (t) day-on-day (d-o-d) on 28 October 2025, except in Raipur, where prices inched up by INR 50/t amid steady demand. The overall downtrend across key producing hubs was driven by lower offers and selling pressure, prompting sellers to adjust offers to conclude deals.
In contrast, Raipur recorded a marginal price rise, supported by consistent buying activity and improved market sentiment over the past few sessions. Sellers in major production hubs, however, opted for price reductions to attract buyers and ease inventory pressure, resulting in increased enquiries and an uptick in booking activity compared with earlier sessions.
Trade activity in south India remained subdued, confined to need-based buying, while other regions reported moderate to higher bookings supported by competitive offers that encouraged limited yet steady participation across trading centers.
Daily trade volume was assessed at around 22,000 t, marginally lower than 23,000 t recorded in the previous session, indicating firm but controlled market activity.
Meanwhile, pellet prices in Raipur remained unchanged at INR 10,000/t DAP, reflecting a steady yet cautious sentiment in the raw material segment.
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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