en.Wedoany.com Reported - Sponge iron prices in major Indian regions declined during the interval period, with drops ranging from INR 100/ton to INR 600/ton, primarily dragged down by weak downstream demand. Among them, prices in the key market of Raipur fell by INR 400/ton to an ex-factory price of INR 24,650/ton.

To attract buyers and boost order volumes, sellers further lowered their quotes. However, market inquiry levels remained limited, procurement activities stayed sluggish, and market sentiment remained under pressure. Market participants generally expect further price corrections and thus adopted a wait-and-see approach, with procurement activities mainly focused on need-based purchases. Bulk orders across regions remained absent, reflecting cautious buyer attitudes and a lack of confidence in near-term demand recovery.

The weak demand for finished steel products continued to drag down sponge iron consumption. Activity in the downstream steel market was subdued, with no substantial improvement in end-user demand, keeping sponge iron prices under pressure throughout the day.

The total trading volume for the day was approximately 14,300 tons, compared to around 12,300 tons in the previous trading session. Most transactions were concluded at lower prices, indicating limited market participation and persistently weak trade flows across regions.

Prices are derived from a dataset of transactions, offers, bids, and indicative prices. Among these, transactions are considered T1 with a weight of 50%, while other datasets are considered T2 with the remaining 50% weight.

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