- Prices ease, demand shows signs of recovery
- Trade volume increases, prices may be rangebound
Indian sponge iron prices declined by INR 50-200/t across key regions on 13 February. Buying activity turned moderate during the day, with some enquiries emerging in the second half of the session after sluggish demand over the past few days. Market participation improved marginally today as buyers stepped in following the price correction, bringing limited buying interest back into the market.
Prices in the finished and semi-finished steel segments saw a mild price correction across regions, which helped improve buying interest. This pick-up in downstream demand lent support to sponge iron prices and slightly improved market sentiment. Prices are expected to remain range-bound with scope for a gradual improvement in demand.
Trade volumes rose sharply to around 12,400 t today from around 2,200 t in the previous session, reflecting improved market participation and a pickup in buying activity. On the cost front, pellet prices increased, with Raipur pellets assessed at around INR 10,450/t ex-works.
Leave a Reply