- Sponge iron prices steady with minor corrections
- Steady bookings support market activity
India’s sponge iron market remained largely stable on 26 June 2026, with prices either unchanged or easing marginally by INR 50-100/t in select regions. Buying activity moderated compared to the previous trading session, resulting in relatively lower trade volumes. To maintain bookings and support market movement, suppliers adopted a flexible pricing approach by lowering offer prices in select markets. Despite the softer trading pace, market sentiment remained stable, supported by continued procurement interest and ongoing transactions.
Demand from the finished steel segment remained moderate, providing limited support to sponge iron prices. Buyers continued with need-based procurement, ensuring regular market activity. Although large-volume deals were limited, steady bookings helped maintain trading momentum, keeping overall market sentiment stable.
On the raw material front, pellet prices remained range-bound at around INR 8,900-9,000/t. In the imported coal market, South African RB2 (5,500 NAR) prices on a CNF Gangavaram remained stable at $112.5/t. Meanwhile, domestic non-coking coal prices at Visakhapatnam port also remained stable at approximately INR 10,600/t.
According to BigMint’s assessment, sponge iron trade volumes stood at around 10,200t on 26 June, increase slightly from nearly 6,750t recorded in the previous session.
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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