India: Sponge iron markets see mixed trends d-o-d - 30 Jan

• Finished steel sales remain subdued

  
  
  

• Semis buying improves on lower offers
  
  

India's sponge iron prices displayed mixed trends today, increasing by INR 50-300/tonne (t) d-o-d in Raipur and Chennai and falling by INR 50-200/t in other regions.

However, there was an improvement in buying activity in the latter half of the day, driven by fluctuating offers. In the semi-finished steel segment especially, buyers took advantage of lower offers offered by some producers to procure material. As a result, buying improved d-o-d in the segment.

PDRI prices stood at INR 23,800-26,600/t, while CDRI offers were assessed at INR 26,150-30,300/t at the end of today's session.

Deals for about 10,050 t of sponge iron were recorded today, compared to 7,200 t on 29 January.

Rationale

Prices have been derived based on data sets of transactions, offers, bids, and indicative prices. Transactions are considered as T1 and given a weightage of 50%, whereas other data sets are considered T2 and given a weightage of the balance 50%.

Click here for detailed methodology