en.Wedoany.com Reported - The Indian sponge iron market showed a firm upward trend on June 29, 2026, with prices rising by INR 100-350/tonne in most regions, driven by increased buying interest and stronger regional demand. Inquiry volumes increased compared to the previous day, boosting seller confidence and prompting upward price revisions. Trading activity remained robust in the first half of the day, but momentum slowed in the second half, with some inquiries not converting into deals. Nevertheless, the overall market sentiment remained optimistic, supported by sustained demand and price improvements.

Demand in the finished steel segment also strengthened, with increased procurement inquiries from major consuming regions. Improved purchasing by finished steel manufacturers provided support to the sponge iron market, with suppliers maintaining a bullish pricing stance. Although the conversion rate of inquiries into actual transactions remained moderate, steady demand continued to underpin market sentiment.

On the raw material front, pellet prices remained within the range of INR 8,900-9,000/tonne. In the imported coal market, South African RB2 (5,500 NAR) CNF Gangavaram prices fell by $1.5/tonne to $111/tonne. Meanwhile, domestic non-coking coal prices at Visakhapatnam port declined by INR 150/tonne to INR 10,450/tonne.

According to BigMint's assessment, sponge iron trade volumes on June 29 rose to approximately 17,580 tonnes from about 10,200 tonnes in the previous trading session. Although relatively fewer deals were concluded in the second half of the day, market participation increased significantly.

Pricing basis: Prices are derived from a dataset of transactions, offers, bids, and indicative prices. Transactions are considered T1, with a weight of 50%, while other datasets are considered T2, with a weight of 50%.