- South African RB2 prices increase by INR 50/t
- Central, eastern regions witness increased trading
Sponge iron prices in India fell by INR 50-300/t on 21 May, 2024.
PDRI market prices closed at a range of INR 28,000-29,200/t and CDRI prices, at INR 29,200-35,000/t.
South African RB2 prices increased by INR 50/t today. Non-coking RB2 (5500 NAR) exw Gangavaram stand at INR 9,950/t ($119/t).
Trading activity increased on lower offers, especially in the central and eastern regions.
About 13,720 tonnes (t) of sponge iron transactions were recorded in the country on Tuesday compared to 5,400 t on 20 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
