- Market sentiments remain dull
- Transactions fall to mere 4,100 t
Indian sponge iron prices declined by INR 100-300/tonne (t) across major markets on 3 March, 2025.
Today, prices showed a downtrend, characterised by low-to moderate-transaction volumes, as buyers procured material at lower prices. However, lower offers failed to lift sponge iron transactions because of overall dull sentiments.
PDRI prices closed at INR 23,700-26,500/tonne (t), while CDRI settled at INR 26,250-30,700/t.
Transactions of 4,100 t were recorded in the country today, significantly down from 11,500 t on 28 February 25.
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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