- Market sentiment remains largely muted d-o-d
- Subdued finished steel demand weighs on enquiries
The Indian sponge iron market witnessed a subdued trading session on 31 July 2025, with spot prices declining by INR 50-200/t across key producing regions. Raipur recorded the steepest price correction, driven by weak demand and minimal trading activity throughout the day.
Buyer inquiries remained scarce, reflecting an inactive trading environment and limited market participation. Sellers attempted to stimulate buying interest through price corrections in select pockets, but these efforts failed to generate meaningful buying momentum.
The semi-finished and finished steel segments echoed this sentiment, continuing on a sluggish path and reinforcing the overall softness in the market.
With prevailing market uncertainties and a lack of downstream support, buyers largely adopted a wait-and-watch approach, resulting in lower trade volumes. Despite price reductions, sponge iron failed to gain traction, and no significant recovery was observed throughout the day.
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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