- Weak finished steel demand weighs on market sentiment
- Buyers resist current prices, engage in need-based purchases
Domestic sponge iron prices declined by around INR 50-300/tonne (t) d-o-d on 14 September 2026 across key regions. The downward movement was mainly attributed to the festive holiday, which kept market activity subdued, along with buyers’ hesitation to accept higher prices. Limited enquiries and cautious purchasing further weighed on market momentum.
In Raipur, PDRI prices settled at around INR 29,600/t, down marginally by INR 50/t amid limited enquiries. Overall buying remained largely need-based, with buyers adopting a cautious approach, particularly at higher price levels.
The finished steel market also remained sluggish today, with no major enquiries reported across the segment. Weak downstream buying interest and limited trading activity continued to keep market sentiment subdued.
Around 5,000 t of sponge iron trade was captured, approximately 2,000 t lower than the previous working day. The decline in trade volumes highlights the softer trading activity in the domestic market today.
Rationale
Prices have been derived based on transactions, offers, bids, and indicative price data sets. Transactions are considered as T1 and given aweightage of 50%, whereas other data sets are considered as T2 and given a weightage of the balance 50%.
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