- Weakness in semis, finished leads to tepid demand
- Market sees average number of transactions today
Sponge iron prices in India decreased by INR 50-350/tonne (t) d-o-d across regions today due to subdued market sentiments.
Weakness in the semi-finished and finished steel segments led to lacklustre demand and, consequently, offer reductions. Nevertheless, an average number of transactions were seen today.
PDRI prices closed within the range of INR 23,200-26,300/t, while CDRI prices were assessed at INR 25,800-30,400/t.
Transactions of approximately 8,700 t were recorded today, up from 6,600 t on 9 December.
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 here for detailed methodology
T1 – Trade, T2 – Offer/Bid/Indicative
Leave a Reply