- Market sees improved transaction volumes
Sponge iron prices in India fell by INR 50-400/tonne (t) across markets today.
PDRI prices closed at INR 24,800-27,700/t, while CDRI was at INR 27,550-31,700/t.
Sponge prices saw an downtrend today despite rise in bookings throughout the day. However, the sudden spurt in positive sentiments around the market led to increased in enquiries. Eventually, improved buying activity were noted today.
Transactions of about 16,500 t of sponge iron were recorded in the country on 26 March 2025, compared to 5,100 t on 25 March.
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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