India: Sponge iron prices ease marginally; improved buying lifts trade volumes

• Demand picks up in central, eastern India
  
  
• Improved steel trade lifts market activity
  
  

India's sponge iron market remained mostly stable with a mild downward bias on 29 April 2026, as prices in a few regions slipped by INR 50-400/t while the majority of markets saw no major change. In the key Raipur market, prices declined by INR 200/t to INR 25,550/t ex-works.

Buying activity improved today compared to the previous few sessions, which had remained largely subdued, resulting in relatively better procurement across markets. Demand was mainly driven by the central and eastern regions, where buying interest picked up, supported by localised requirements and improved participation.

In the downstream segments, buying activity improved, with both semi-finished and finished steel markets witnessing better demand. This supported overall procurement in the sponge iron market, lending a firmer tone to market sentiment.

BigMint recorded trade volumes of around 19,800 t, compared to approximately 7,300 t in the previous session, indicating a significant improvement in market activity. The rise in volumes reflects stronger buying interest and better procurement across the market, supported by increased participation from market players.

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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