- Prices climb up on positive cues from nearby markets
- 11,000 t booked today, indicating selective purchases
India’s sponge iron market recorded a sharp price hike of INR 100-600/tonne (t) d-o-d on 18 September 2025, with Ramgarh leading the rally by posting the steepest gain of INR 600/t. The surge was largely driven by positive cues from neighbouring semi-finished and finished steel markets, coupled with improved trade activity during the previous session.
Despite the bullish price movement, buyer sentiment stayed cautious. Many participants were hesitant to commit at elevated prices, preferring to wait for clarity on whether the uptrend is sustainable or likely to reverse. This cautious approach capped overall market participation.
Around 11,000 t of sponge iron were booked pan-India, reflecting limited but selective buying support amid the sharp price rally. While improved sentiment in allied markets continues to provide short-term support, sponge iron demand will hinge on buyers’ confidence in the sustainability of current prices.
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%.
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