- Sponge iron prices rise by INR 200-900/t
- Active buying observed at current price levels
Sponge iron prices in India moved up today, with prices rising by INR 200-900/tonne (t) d-o-d in all major markets.
PDRI prices were assessed at a INR 26,500-28,350/t and CDRI prices at INR 27,550-32,500/t.
South African RB2 coal (5500 NAR) prices remained stable today at INR 9,400/t ($112/t) exw Gangavaram.
This upward movement reflected supportive buying, as buyers were active in booking material in response to rising offers.
About 20,100 t of sponge iron transactions were recorded across the country on Wednesday compared to 23,960 t on 2 April.
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
T1 – Trade, T2 – Offer/Bid/Indicative
