- Central region holds 41% of total trade volumes
- Spot trade volumes rise d-o-d on lower offers
Sponge iron prices in all key locations in India decreased by INR 100-200/tonne (t) on 26 June, 2024.
PDRI market prices closed at a range of INR 23,600-26,850/t and CDRI prices, at INR 25,550-30,300/t.
South African RB2 prices remained stable today. Non-coking RB2 (5500 NAR) exw Gangavaram stood at INR 10,100/t ($121/t).
Trading activity increased on improved demand at lower prices, especially in the central region (Raipur and Raigarh) which saw around 14,000 tonnes of transactions which holds 40% of the total trade volumes today, which was then followed by the eastern region.
About 33,500 tonnes (t) of sponge iron transactions were recorded in the country on Wednesday compared to 11,250 t on 25 June.
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
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