- Anti-dumping news boosted market sentiment
- Finished steel prices rose by INR 200-800/t.
Sponge iron prices across major Indian markets recorded an increase of INR 100-350/t on 19 December 2025, supported by improved market sentiment following anti-dumping developments and firmer offers from leading producers. The sharpest rise of around INR 350/t was observed in Raipur, driven by marginally better buying interest and a more optimistic short-term market outlook.
Overall steel market sentiment strengthened after India imposed a five-year anti-dumping duty on imports of Cold Rolled Non-Oriented (CRNO) electrical steel from China. The policy move boosted confidence across the steel value chain, encouraging sellers to raise offers amid expectations of reduced import pressure.
However, despite higher inquiry levels and a noticeable improvement in sentiment, actual demand conversion remained limited. Buyers turned cautious at elevated price levels, with many delaying procurement amid ongoing selling pressure. While panic buying was observed in pockets, it was insufficient to sustain strong demand momentum, resulting in overall sponge iron demand remaining moderate.
Trade volumes were reported at approximately 12,000 tonnes, slightly higher than the 11,000 tonnes recorded on Thursday, indicating marginally improved market activity. On the cost side, raw material prices remained stable, with pellet prices in Raipur assessed at INR 9,300/t (ex-works) and iron ore prices holding firm, providing underlying cost support to the market.
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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