Sponge iron prices in India rose INR 100-400/tonne (t) across markets today.
PDRI prices closed at INR 23,800-26,800/t and CDRI at INR 26,000-30,500/t.
Prices for sponge iron increased on Thursday. As offer prices moved up, market participants were seen making need-based purchases.
Transactions for about 9,150 t of sponge iron were recorded in the country today.
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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