- Trade muted, buyers satisfied with previous bookings
- Buyers resist rising offers, expect further price declines
Indian sponge iron prices showed mixed trends d-o-d, decreasing in Bellary by INR 100-150/t while increasing by INR 100/t in other locations.
Purchase activity was low, as buyers were satisfied with previous bookings. They also showed reluctance to rising prices, expecting future declines.
PDRI prices were assessed at INR 23,500-26,950/t and CDRI at INR 26,300-30,900/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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