- Prices rise by INR 100-500/t
- Transaction volumes rise d-o-d
Sponge iron prices in India increased by INR 50-550/tonne (t) across markets today.
PDRI market prices closed at INR 23,900-27,100/t, while CDRI tags stood at INR 26,600-31,000/t.
Prices of sponge iron increased today amid some market optimism. Active bookings at a higher price range helped to sustain the increased in inquiries. Transaction volumes increased steadily, as a result.
On Thursday, sponge iron transactions of approximately 16,300 t were recorded across the country, a significant increase from 9,700 t on 26 February.
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 for the balance 50%.
Click here for detailed methodology
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