Sponge iron prices in India showed mixed trends today, rising by INR 50-100/tonne (t) across various regions due to volatile and moderate market conditions. However, prices decreased by INR 50-500/t in Durgapur, Bellary, and Hyderabad. Despite these fluctuations, buying demand for sponge iron remained subdued, with only need-based purchases being made.
South African RB2 (5500 NAR) coal prices fell to INR 9,600/t ($114/t) ex-Gangavaram today.
PDRI prices closed within a range of INR 23,500-26,200/t, while CDRI prices were assessed at INR 26,000-30,000/t.
A total of 10,420 t of sponge iron deals were recorded on Wednesday, compared to 12,800 t on 3 September.
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
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