- Durgapur, Ramgarh, Raigarh prices up INR 50-200/t
- Raipur PDRI settles at INR 29,350/t, down INR 50/t
Domestic sponge iron prices moved in diverse directions today. Prices rose by INR 50-200/t in Durgapur, Ramgarh and Raigarh. BigMint’s Raipur PDRI prices settled at around INR 29,350/t, down slightly by INR 50/t, while the southern region witnessed a decrease of around INR 50-100/t on dull buying sentiment.
Buyer participation stayed limited to need-based. Demand for finished steel was slow, and no major bulk buying was seen in semi-finished or finished steel segments, which kept sentiment bearish in some regions. Pellet and non-coking coal prices remained high, putting pressure on sponge iron margins; so sellers cut prices only in a limited way. Even so, buying activity remained poor. Good enquiries the previous day had lifted market sentiment, but overall trade activity remained limited today.
BigMint recorded trade of around 10,000 t, slightly lower than the previous session, reflecting softer market activity.
Rationale
Prices have been derived based on transactions, offers, bids, and indicative price data sets. Transactions are considered as T1 and given aweightage 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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