Sponge iron prices in India rose INR 50-400/tonne (t) across markets today.
PDRI prices closed at INR 26,000-27,200/t, while CDRI was at INR 27,250-31,200/t.
Sponge prices saw an uptick on Thursday. However, due to the continuous rise in prices and bookings, buyers opted for need-based purchasing. An average number of transactions were recorded today.
Transactions of about 11,800 t of sponge iron were recorded in the country on 26 September 2024, compared to 24,800 t on 25 September.
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
T1 – Trade, T2 – Offer/Bid/Indicative
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