- Semis, finished tags fall on weak demand
- Transaction volumes edge down d-o-d
Indian sponge iron prices dropped INR 100-300/t d-o-d today in all major locations amid modest buying. Sponge iron prices fell, as semi-finished and finished steel prices weakened due to soft end-user demand.
PDRI prices were assessed at INR 23,350-25,700/t and CDRI tags at INR 24,700-29,800/t.
Transactions for only 7,000 t of sponge iron were recorded today compared to 9,600 t on 28 May.
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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