- Regional price variations seen across markets
- Trade volumes surge d-o-d on improved buying interest
Indian sponge iron prices displayed a mixed trend across regions today. Prices increased by up to INR 400/t in the Chennai market, while the Jharsugda region witnessed a decline of up to INR 400/t. Prices in Raipur were largely stable. Buying activity remained moderate across markets.
Demand from both the finished and semi-finished steel segments was also moderate, keeping overall market sentiment steady. Consequently, most buyers continued to procure material to fulfil immediate needs, with market participants maintaining a cautious stance and waiting for clearer demand signals before making bulk bookings.
Trade volumes improved today, with transactions recorded at around 19,800 t compared to approximately 4,000 t in the previous session, indicating relatively better buying interest in the market.
On the cost front, pellet prices remained stable, with Raipur pellet assessed at around INR 11,000/t ex-works.
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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