- Trade volumes witness a sharp decline d-o-d
- Sponge prices tick up in south India
India’s sponge iron prices showed a mixed trend across regions today. Prices remained largely stable, with mild corrections observed in the eastern and central markets, while the southern region witnessed an increase of INR 200-300/t. Buying interest remained subdued across markets, as buyers placed lower bids while sellers attempted to hold their price levels. Consequently, trading activity stayed low to moderate.
Demand from both the finished and semi-finished steel segments remained moderate, keeping overall market sentiment stable. As a result, buyers largely continued with need-based procurement, while market participants adopted a cautious approach, awaiting clearer demand visibility before committing to bulk purchases.
Trade volumes witnessed a sharp decline today, with transactions recorded at around 6,650 t compared to approximately 19,800 t in the previous session, reflecting muted market activity and weak buying interest in the sponge iron segment.
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
Leave a Reply