- Raigarh records steepest price decline of INR 250/t d-o-d
- Bookings improve amid concerns regarding price volatility
India’s sponge iron prices declined by INR 50-250/tonne (t) across major hubs on 26 August. The sharpest fall was recorded in Raigarh (INR 250/t), which was weighed down by sluggish demand and buyer caution. However, the central region saw a slight recovery in demand, bringing some relief to sellers.
Semi-finished and finished steel segments witnessed moderate trade activity, especially in the central belt, where buying interest improved.
An estimated 15,000 t of sponge iron were booked today (compared to 9,000 t yesterday) – not for immediate consumption but in expectations of short-term price fluctuations.
Despite the overall bearish tone, the regional demand recovery brought a glimmer of optimism to the market. If this trend sustains, prices may stabilise in the coming sessions.
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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