- Buying interest improves following recent price corrections
- Trade volumes rise sharply; pellet prices remain stable
Indian sponge iron (DRI) prices witnessed a rebound on 9 January, supported by improved regional demand across key producing hubs. Overall market sentiment turned positive as buyers stepped up enquiries following price revisions in the market. After a continuous price correction over the past week, prices appeared to stabilise and rebound, encouraging active participation from buyers.
While price movements remained mixed, buying interest gradually improved towards the evening session, particularly in Central India, where buying activity picked up sharply after remaining subdued over the past few days. Across regions, mills and traders displayed greater willingness to procure material amid expectations of near-term price stability.
Daily trade volumes were estimated at around 26,900 t, significantly higher than 8,000 t recorded in the previous session, indicating strong participation from both traders and end-users.
On the raw material front, pellet prices in Raipur remained stable at INR 9,700/t ex-works, supported by steady iron ore prices and a balanced supply-demand scenario among mid-sized pellet producers.
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