- Central, eastern India provide support to market
- Enquiries stay limited across regions today
Sponge iron prices across major markets increased by INR 50-300/t on 24 December 2025, supported by improved sentiment and firm offers from key producers. Most regions witnessed an upward price movement, reflecting cautious optimism among sellers due to better realisations in the previous session. However, Hyderabad and Bellary remained exceptions, where prices declined by INR 100/t due to limited buying interest and subdued participation from end-users.
The central and eastern markets continued to lend support to the pan India sponge market. Prices in these regions rose by INR 50-300/t, backed by positive sentiment and relatively improved market conditions compared to earlier sessions. Encouraged by healthy sales momentum, sellers attempted to push offers higher. Notwithstanding, buyers remained cautious and adopted a wait-and-watch approach.
In contrast, the south Indian market remained subdued. Sponge iron prices declined by INR 100/t in Hyderabad and Bellary due to weak enquiries and sufficient material availability from earlier bookings. Chennai was an exception, where prices increased slightly by INR 200/t supported by local demand.
Trade volumes were recorded at around 13,500 t today, marginally higher than 10,000 t yesterday, which reflects modest demand. Meanwhile, pellet prices in Raipur remained unchanged at INR 9,300/t ex-works, reflecting balanced raw material fundamentals and steady market sentiment.
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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