Indian sponge iron prices showed mixed trends, increasing in regions like Raigarh and Durgapur by INR 50/t and 200/t today. Meanwhile, prices in other locations dropped by 100/t.
Limited demand persisted in the market as buyers opted for a wait-and-watch approach as prices continued to decline.
PDRI prices closed at a range of INR 21,900-25,500/t and CDRI prices at INR 24,200-29,300/t.
Only 4,000 tonnes (t) of sponge iron transactions were recorded in the country on Tuesday compared to 3,550 t on 2 August.
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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