Sponge iron prices in India experienced a slight decrease, ranging from INR 50 – 400/t d-o-d in the major regions. This decline is noted to have impacted firm market sentiments, especially after the holiday mode. Despite this, buying activity in the semi-finished segment remained on the lower side on 23 January, 2024.
Meanwhile, Durgapur and Ramgarh regions experienced a significant decline in sponge iron prices, ranging from INR 300 – 400/t.
PDRI market prices closed at a range of INR 25,000-27,250/t and CDRI prices, at INR 26,650-31,400/t.
About 16,550 tonnes (t) of sponge iron deals were recorded in the country today compared to 2,305 t on 20 January.
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 for detailed methodology
T1 – Trade, T2 – Offer/Bid/Indicative
