Sponge iron prices in India rose by INR 100-450/tonne (t) d-o-d across key markets on 24 March 2025.
PDRI market prices closed in the range of INR 24,900-27,700/t, and CDRI prices were assessed at INR 27,750-31,900/t.
The improvement in semi-finished steel prices has caused sponge iron prices to rise in certain areas. However, the volumes reported today were moderate.
About 10,800 t of sponge iron transactions were recorded in the country today compared to 5,850 t on 22 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%.
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