- South African RB2 prices remain stable
- Buyers make need-based bookings
Indian sponge iron prices edged down today by INR 50-300/tonne (t) in major locations amid limited demand.
PDRI market prices closed at a range of INR 28,800-30,250/t and CDRI prices, at INR 30,000-36,000/t.
South African RB2 prices remained stable today. Non-coking RB2 (5500 NAR) exw-Gangavaram stood at INR 9,900/t ($118/t).
Limited trading activity was reported, as buyers had already placed enough orders yesterday. So, they came forward for only need-based bookings.
Only 7,900 t of sponge iron transactions were recorded in the country on Tuesday compared to 32,200 t on 6 May.
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%.
Click for detailed methodology
T1 – Trade, T2 – Offer/Bid/Indicative
