- Buying interest spikes even amid rising offers
- Uptick in finished steel offtake pushes spot bookings
India’s sponge iron market witnessed a significant price increase on 24 July 2025, with spot offers rising by INR 100-500/tonne (t) across key regions. The surge was driven by tight raw material availability, continued pellet price hikes, and improved demand from the finished steel segment.
Despite elevated offers, buyers approached the market with need-based procurement, anticipating possible material scarcity in the near term. Manufacturers, citing input cost inflation and supply constraints, held firm on higher offers throughout the day.
Pan-India sponge iron bookings were reported at approximately 26,600 t, reflecting a notable increase from 22,000 t recorded in the previous trading session.
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%.
Click here for detailed methodology
Leave a Reply