- Finished steel prices up INR 100-500/t
- Trade volumes decrease amid higher prices
Domestic sponge iron prices rose by INR 50-400/t d-o-d across regions, supported by firm sentiment in the finished steel segment. BigMint’s assessment for Raipur PDRI settled at around INR 28,050/t exw, up INR 300/t d-o-d.
Demand, however, did not keep pace with prices. Most buyers had covered their near-term requirements during the previous session’s active trade and held back from fresh bookings at higher offers. Finished steel prices also rose by INR 100-500/t across regions, but end-user demand at these levels remained subdued.
Trade momentum stayed weak, with no major bulk deals reported and purchases limited to immediate needs. BigMint recorded sponge iron trades of around 7,500 t, down from nearly 16,500 t in the previous session.
Rationale
Prices have been derived based on transactions, offers, bids, and indicative price data sets. Transactions are considered as T1 and given aweightage 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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