- Decline attributed to slide in steel prices
- Transaction volumes fall on d-o-d basis
Sponge iron prices in the country fell by INR 50-200/tonne (t) d-o-d today in major locations.
Prices declined as market participants remained cautious amid a downward trend seen in the steel market.
PDRI prices were assessed at INR 23,900-27,000/t, while CDRI rates hovered at INR 26,550-31,000/t.
Transactions of only 6,700 t of sponge iron were recorded in the country today, compared to 8,500 t on 11 March due to cautious market sentiments.
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
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