- Need-based buying seen at higher prices
- Trading volume drops significantly d-o-d
Sponge iron prices in India rose INR 100-650/tonne (t) d-o-d amid moderate transactions across markets today.
PDRI prices closed at INR 24,600-27,500/t, while CDRI was at INR 27,400-31,400/t.
Sponge prices saw an uptick on Thursday. However, due to the continuous rise in prices and bookings, buyers opted for need-based purchases. An average volume of transactions was recorded today, a significant drop from yesterday.
Transactions for about 11,700 t of sponge iron were recorded in the country on 20 March 2025, down significantly from 28,900 t on 19 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 here for detailed methodology
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