India: Sponge iron price show mixed trends amid improved trades d-o-d

India's sponge iron market witnessed mixed trends today. Prices increased by INR 50-350/tonne (t) in all key locations while, Hyderabad and Raigarh markets slowed down by INR 50-100/t.

PDRI prices stood at around INR 23,900-26,450/t at close of trading today while CDRI prices were at INR 26,000-30,100/t.

South African non-coking coal prices remained stable today. RB2 (5500 NAR) grade coal prices stood at INR 9,650/t ($115/t) exw-Gangavaram.

Bulk bookings were seen across markets today which led to a significant rise in daily spot trade volumes.

About 26,150 t of sponge iron transactions were recorded in the country on Thursday compared to 5,530 t on 24 July.

Active bookings were recorded in the market as offers were raised for semi-finished segment in the first half of the session supported buying activity.

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