- Market sentiment remains weak d-o-d
- Muted finished steel demand sees spot offers softening
The Indian sponge iron market continued to weaken on 6 August 2025, with spot prices declining by INR 50-400/tonne across key production hubs. The central region registered the sharpest correction, driven by weak demand and minimal trading activity throughout the day.
Buyer inquiries remained scarce, resulting in a sluggish trading environment and limited market participation. While sellers attempted to boost activity through selective price cuts, these measures failed to generate meaningful buying momentum.
The semi-finished and finished steel segments mirrored this weakness, maintaining a subdued pace and reinforcing the overall bearish tone in the market.
Amid ongoing market uncertainties and a lack of downstream demand support, buyers maintained a wait-and-watch approach. Trade volumes remained subdued, with 10,800 t of sponge iron deals concluded during today’s session.
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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