{"id":70861,"date":"2026-07-06T17:12:17","date_gmt":"2026-07-06T11:12:17","guid":{"rendered":"https:\/\/biztrend24.com\/?p=70861"},"modified":"2026-07-06T17:12:17","modified_gmt":"2026-07-06T11:12:17","slug":"india-sponge-iron-market-falls-amid-weak-demand-on-3-july-2026","status":"publish","type":"post","link":"https:\/\/biztrend24.com\/?p=70861&lang=en","title":{"rendered":"India: Sponge iron market falls amid weak demand on 3 July 2026"},"content":{"rendered":"<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li class=\"isSelectedEnd\">Trade volume increased amid competitive pricing and improved deal closures<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li class=\"isSelectedEnd\">Buyer participation remained cautious amid weak downstream steel demand<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>India&#8217;s domestic sponge iron market remained under pressure this week, with prices continuing to decline amid sluggish demand and weak market sentiment. On 3 July, sponge iron prices fell by INR 100-300\/t day-on-day across most regions. The correction was largely driven by subdued buying interest, cautious market sentiment, and most transactions being concluded at the lower end of the prevailing price range.<\/p>\n<p class=\"isSelectedEnd\">Central India:<\/p>\n<p class=\"isSelectedEnd\">BigMint&#8217;s exw-Raipur sponge iron (PDRI) assessment declined by INR 300\/t d-o-d, primarily due to weak demand, aggressive pricing by sellers, and sluggish downstream steel consumption. On a week-on-week (w-o-w) basis, prices have fallen by around INR 600\/t.<\/p>\n<p class=\"isSelectedEnd\">Trading activity remained slow across the Raipur market. Meanwhile, suppliers from Raigarh and Jharsuguda continued to offer more competitive prices, enabling them to attract buyers from neighbouring markets. Buyers increasingly preferred procuring material from these regions as delivered prices were lower than those offered in Raipur.<\/p>\n<p class=\"isSelectedEnd\">On 3 July, Raigarh-based sellers concluded nearly 10,000 t of sponge iron deals, with major dispatches to Uttar Pradesh, Madhya Pradesh, and Raipur, supported by their competitive pricing.<\/p>\n<p class=\"isSelectedEnd\">Eastern India:<\/p>\n<p class=\"isSelectedEnd\">In the eastern region, sponge iron prices hovered in the range of INR 23,400-23,900\/t throughout the week. Although demand remained weak, sellers were reluctant to reduce prices further as operating margins have become extremely thin.<\/p>\n<p class=\"isSelectedEnd\">Market activity remained largely need-based, with moderate trading volumes and no significant bulk transactions reported. Additionally, some sponge iron plants were under maintenance, limiting spot availability. Tight scrap availability across the eastern market also supported prices, keeping the market range-bound despite subdued demand.<\/p>\n<p class=\"isSelectedEnd\">Southern India:<\/p>\n<p class=\"isSelectedEnd\">The southern market also witnessed a week-on-week price decline of around INR 200\/t. Demand remained subdued, largely due to weak finished steel consumption.<\/p>\n<p class=\"isSelectedEnd\">Buyers in the region continued to prefer sourcing sponge iron from Odisha and West Bengal, where material was available at more competitive prices. This shift in procurement further weakened local demand in the southern market and kept trading activity muted.<\/p>\n<p class=\"isSelectedEnd\">Raw Material Update:<\/p>\n<p class=\"isSelectedEnd\">In Raipur, raw pellet prices were reported in the range of INR 9,100-9,200\/t.<\/p>\n<p class=\"isSelectedEnd\">In the imported coal market, South African RB2 (5,500 NAR) prices on a CNF Gangavaram basis declined by $2\/t week-on-week to $109\/t. While the decline in coal prices provided some cost relief, sellers remained cautious about implementing further price cuts as margins continued to remain under pressure.<\/p>\n<p class=\"isSelectedEnd\">Trade Activity:<\/p>\n<p>BigMint recorded approximately 22,000 t of sponge iron trades on 3 July, with trading volumes increasing by around 8,000 t compared to the previous day, indicating steady buying interest at lower price levels.<\/p>\n<p>Rationale:<\/p>\n<p>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%.<\/p>\n<p><a id=\"menur9dp\" class=\"fui-Link ___1q1shib f2hkw1w f3rmtva f1ewtqcl fyind8e f1k6fduh f1w7gpdv fk6fouc fjoy568 figsok6 f1s184ao f1mk8lai fnbmjn9 f1o700av f13mvf36 f1cmlufx f9n3di6 f1ids18y f1tx3yz7 f1deo86v f1eh06m1 f1iescvh fhgqx19 f1olyrje f1p93eir f1nev41a f1h8hb77 f1lqvz6u f10aw75t fsle3fq f17ae5zn\" title=\"https:\/\/d3bz26k9g3a6xf.cloudfront.net\/assets\/nwbm\/docs\/methodology_pricing_standards_manual_final.pdf\" href=\"https:\/\/d3bz26k9g3a6xf.cloudfront.net\/assets\/nwbm\/docs\/Methodology_Pricing_Standards_Manual_Final.pdf\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Link Click here for detailed methodology\">Click here for detailed methodology<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-766312\" src=\"https:\/\/wp-insights-sm.s3.ap-south-1.amazonaws.com\/wp-content\/uploads\/2026\/07\/sp-sts.png\" alt=\"\" width=\"1114\" height=\"293\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-766311\" src=\"https:\/\/wp-insights-sm.s3.ap-south-1.amazonaws.com\/wp-content\/uploads\/2026\/07\/pricesp.png\" alt=\"\" width=\"889\" height=\"624\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trade volume increased amid competitive pricing and improved deal closures Buyer participation remained cautious amid&#8230;<\/p>\n","protected":false},"author":1,"featured_media":70862,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[313],"tags":[],"class_list":["post-70861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-iron-steel"],"featured_image_urls":{"full":["https:\/\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-93-1.jpg?v=1783336330",1280,720,false],"thumbnail":["https:\/\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-93-1-150x150.jpg?v=1783336330",150,150,true],"medium":["https:\/\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-93-1-300x169.jpg?v=1783336330",300,169,true],"medium_large":["https:\/\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-93-1-768x432.jpg?v=1783336330",640,360,true],"large":["https:\/\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-93-1-1024x576.jpg?v=1783336330",640,360,true],"1536x1536":["https:\/\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-93-1.jpg?v=1783336330",1280,720,false],"2048x2048":["https:\/\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-93-1.jpg?v=1783336330",1280,720,false],"covernews-slider-full":["https:\/\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-93-1-1115x715.jpg?v=1783336330",1115,715,true],"covernews-slider-center":["https:\/\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-93-1-800x500.jpg?v=1783336330",800,500,true],"covernews-featured":["https:\/\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-93-1-1024x576.jpg?v=1783336330",1024,576,true],"covernews-medium":["https:\/\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-93-1-540x340.jpg?v=1783336330",540,340,true],"covernews-medium-square":["https:\/\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-93-1-400x250.jpg?v=1783336330",400,250,true]},"author_info":{"display_name":"Biz Trend 24","author_link":"https:\/\/biztrend24.com\/author\/online24"},"category_info":"<a href=\"https:\/\/biztrend24.com\/?cat=313&#038;lang=en\" rel=\"category\">Iron &amp; Steel<\/a>","tag_info":"Iron &amp; Steel","comment_count":0,"jetpack_featured_media_url":"https:\/\/biztrend24.com\/wp-content\/uploads\/2026\/07\/Untitled-design-93-1.jpg?v=1783336330","_links":{"self":[{"href":"https:\/\/biztrend24.com\/index.php?rest_route=\/wp\/v2\/posts\/70861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/biztrend24.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/biztrend24.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/biztrend24.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/biztrend24.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=70861"}],"version-history":[{"count":1,"href":"https:\/\/biztrend24.com\/index.php?rest_route=\/wp\/v2\/posts\/70861\/revisions"}],"predecessor-version":[{"id":70863,"href":"https:\/\/biztrend24.com\/index.php?rest_route=\/wp\/v2\/posts\/70861\/revisions\/70863"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/biztrend24.com\/index.php?rest_route=\/wp\/v2\/media\/70862"}],"wp:attachment":[{"href":"https:\/\/biztrend24.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=70861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/biztrend24.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=70861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/biztrend24.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=70861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}