- Prices decrease by INR 100-200/t in key markets
- Transactions volumes drop marginally
Today’s trends in India’s sponge iron market were mixed. Prices decreased by INR 100-200/tonne (t) across major locations. Meanwhile, Bellary saw increases of INR 50/t.
PDRI prices were around INR 24,100-27,000/t by the close of trading, while CDRI prices ranged from INR 26,550-31,000/t.
Market activity was subdued today, with fewer inquiries and only need-based purchasing leading to moderate trade volumes. Approximately 5,600 t of sponge iron transactions were recorded today, down from 6,100 t on 7 March.
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
Leave a Reply