The Indian sponge iron market showed mixed trends, with prices decreasing by INR 50-600/t but went up by INR 100/t in some locations.
Buying activity remained moderate as buyers were hesitant after a round of bookings done previously and concerns related to the stability of the market, expecting it to fall further.
PDRI prices were assessed at INR 24,800-27,500/t and CDRI prices at INR 27,250-32,100/t.
Approximately 10,000 tonnes (t) of sponge iron transactions were recorded in the country on Tuesday compared to 3,050 t on 7 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
Leave a Reply