- Buyers stay cautious on market uncertainty
- Modest transaction volumes recorded today
Indian sponge iron prices declined by INR 100-600/tonne (t) d-o-d today across major locations.
Prices continued to decline, as buyers remained wary in an unpredictable environment. This led to modest transaction volumes today.
PDRI prices closed within INR 23,700-27,300/t, while CDRI settled at INR 26,200-31,200/t.
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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