- Sellers resist deep discounts; buying remains limited
- Sluggish steel market weighs on sentiment
Sponge iron prices across India declined by INR 100-350/tonne on 14 October 2025, as weak demand and limited inquiries continued to pressure the market. Most trades were concluded at lower price levels, reflecting cautious buyer sentiment, while producers resisted deeper price cuts despite persistent selling pressure in key producing regions.
With no immediate signs of recovery, sellers were compelled to adjust offers marginally to conclude deals, though overall market movement remained limited. The sentiment stayed bearish and subdued, with trade activity restricted to need-based procurement within a narrow price range.
Daily trade volumes were assessed at around 10,300 t, indicating muted participation across major sponge-producing hubs. Sellers displayed increasing readiness to offer material at competitive levels, while buyers largely maintained a wait-and-watch stance, anticipating further clarity before restocking.
Meanwhile, pellet prices in Raipur held steady at INR 10,300/t ($116/t) DAP, reflecting stable conditions in the central region’s raw material 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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