- PDRI prices closed at INR 25,100-28,000/t
- Commodities rally boosts sponge iron tags
Sponge iron prices in India rose by INR 50-200/tonne (t) d-o-d across markets today.
PDRI prices closed at INR 25,100-28,000/t, while CDRI stood at INR 27,700-32,500/t.
Sponge iron prices have climbed up amid a broader rise in commodity prices, with transaction offers surging due to heightened market activity and strong buyer participation.
However, d-o-d, transaction volumes fell. About 10,400 t of sponge iron were traded in the country, compared to a higher 15,000 t on 10 April.
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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