- Prices fall as buyer caution persists
- Transaction volumes decline d-o-d
Indian sponge iron prices declined by INR 100-200/tonne (t) today across major locations.
The downtrend in sponge iron prices persisted, as buyers remained cautious in an uncertain market. PDRI prices closed within the range of INR 21,700-25,000/t, while CDRI tags settled at INR 24,200-29,100/t.
Buyer caution prevailed in a declining market, resulting in modest transaction volumes.
Transactions for only 9,000 t of sponge iron were recorded in the country compared to 12,150 t on 11 June.
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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