- Sponge iron prices vary ranging INR 50-300/t today
- Trade volumes improve d-o-d
Sponge iron prices in India continued to decrease further, with prices dropping by INR 50-200/t d-o-d in major regions. However, sponge iron prices for Durgapur, Ramgarh and Jharsuguda increased in the range of INR 50-300/t respectively.
Limited spot buying were observed today pan India, except in the central region (Raipur), where active bookings were witnessed throughout the day.
About 16,780 tonnes (t) of sponge iron deals were recorded in the country today compared to 14,675 t on 14 March.
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%.
T1 – Trade, T2 – Offer/Bid/Indicative
