- Spot offers edge up in central India, Odisha
- Buyers feel prices may rise further in short term
India’s sponge iron prices showcased mixed trends on 22 July 2025. Spot offers rose by INR 50-200/tonne (t) in Raipur, Jharsuguda and Mandi Gobindgarh, while Bellary and Durgapur recorded price corrections of INR 50-100/t.
Prices in the central region moved upward due to an increase in raw material costs. Buyers anticipate that prices have bottomed out and are likely to rise further in the coming days.
Trade volumes witnessed an improvement during the second half of the session, primarily driven by a rise in sponge iron prices. The upward momentum was further supported by firm trends in the semi-finished steel segment, which boosted buyer confidence and encouraged active procurement.
Trades for approximately 22,000 t of sponge iron were recorded today – increasing from yesterday session 11,300 t.
Rationale
Prices have been derived based on data sets of transactions, offers, bids, and indicative prices. Transactions are considered as T1 and given a weightage of 50%, whereas other data sets are considered T2 and given a weightage of the balance 50%.
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