- Buyers remain wary amid elevated tags
- Average trade activities observed today
Indian sponge iron prices declined by INR 50-300/tonne (t) d-o-d across key locations today.
PDRI prices were assessed at INR 24,600-27,700/t, while CDRI settled at INR 27,250-32,100/t.
Sponge iron prices fell following continued buyer caution amid elevated prices. Average trade activities were observed today due to buyers’ reluctance to make firm commitments at the higher rates.
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
Leave a Reply