- Buyers remain cautious but make need-based purchases
- Robust semis, finished steel demand supports sponge iron
India’s sponge iron prices increased by INR 200-950/t d-o-d across regions on 1 April 2026, reflecting positive market momentum. Demand was moderately strong, though buyers largely made need-based purchases. Market sentiment was stable, as participants continued to engage cautiously while keeping a close watch on further price trends.
Demand in both the finished and semi-finished steel segments remained healthy, providing strong support to the sponge iron market. Improved demand visibility encouraged steady procurement activity, thereby supporting sponge iron prices during the day.
Consequently, trade volumes recorded a notable improvement over the previous session, increasing from around 2,700 t to approximately 16,800 t, reflecting improved liquidity, enhanced market participation, and a pickup in overall trading activity.
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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