India: Sponge iron market witnesses mixed trend amid improved buying - 18 Jan
Sponge iron prices in India witnessed an overall increase of INR 50-150/t in major regions, driven by an upward trend in the semi-finished segment on 18 January, 2024. Ho...
Sponge iron prices in India witnessed an overall increase of INR 50-150/t in major regions, driven by an upward trend in the semi-finished segment on 18 January, 2024.
However, there were exceptions in regions like Rourkela, Raipur, and Raigarh, where a marginal decline of INR 100-200/t was noticed throughout the day, despite the overall upward trend.
PDRI market prices closed at a range of INR 25,150-27,300/t and CDRI prices, at INR 26,600-31,500/t.
About 24,355 tonnes (t) of sponge iron transactions were recorded in the country today compared to 15,950 t on 17 January.
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