- Buyers stay silent in muted market
- Transaction volume declines d-o-d
Indian sponge iron prices showed mixed trends today. Prices rose by INR 50-100/tonne (t) in all locations, except for Rourkela, Bellary, and Mandi, where they fell by INR 100/t.
Trade was moderate, as buyers remained silent in a dull market. An average number of transactions were recorded.
PDRI prices closed within the range of INR 23,200-26,100/t, while CDRI tags were at INR 25,300-30,400/t.
Transactions for approximately 5,000 t of sponge iron were recorded across the country on Wednesday, compared to 8,400 t on 20 May.
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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