- Central India sees slight hikes amid steady demand
- Weak demand continues in eastern, southern markets
Indian sponge iron prices displayed mixed movements on 10 November 2025, with regional disparities highlighting uneven demand across key producing regions.
Prices in central India increased by INR 100-250/tonne (t), supported by moderate restocking and steady buying interest. Sellers in this region maintained firm offers, backed by stable raw material costs and slightly improved trade activity.
In contrast, the eastern and southern markets remained largely stable to slightly lower, with prices correcting by INR 100-150/t in select pockets amid weak demand and limited trading activity. Southern producers reduced offers to stimulate sales; however, buyer response remained muted due to subdued finished steel demand and continued cautious procurement.
Trade activity improved modestly, with confirmed sponge iron transactions assessed at around 19,000 t, up from 16,000 t in the previous session, indicating a marginal recovery in market participation.
Meanwhile, pellet prices in Raipur held steady at INR 9,900/t ($111/t) exw, reflecting mixed sentiment and balanced supply-demand dynamics in the raw material segment.
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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