- Buyer start procuring as prices bottom out
- Transactions volumes rise by 3,000 t d-o-d
Indian sponge iron prices declined by INR 50-200/tonne (t) d-o-d across major markets on 18 June 2025.
Today, prices declined despite low-to-moderate transaction volumes, as buyers procured material only after prices had bottomed out. However, improvement in buying activity failed to lift sponge iron prices because of overall dull sentiments.
PDRI prices closed at INR 21,500-25,500/t, while CDRI settled at INR 24,100-29,500/t.
Transactions of 6,500 t were recorded in the country today, up from 3,500 t on 17 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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