Indian sponge iron prices showed mixed trends as prices increased by INR 50-200/t. Meanwhile, sponge prices in Rourkela, Hyderabad and Chennai dropped by 50-100/t.
Limited demand persisted in the market as market participants waited to book material amid lack of availability of transport due to Holi festival.
PDRI market prices closed at a range of INR 23,900-26,900/t and CDRI prices at INR 26,500-31,200/t.
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%.
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