India: Sponge iron prices continue to fall on moderate demand - 15 Jun

Sponge iron prices fell by INR 50-400/t in key domestic locations today amid moderate demand and weak sentiments in the spot market. This prompted suppliers in various regions to reduce offers.

Market participants lacked trust in the direction of price change. As a result, spot trading was considerably low.

About 11,050 tonnes (t) of sponge iron transactions were recorded today in the country as against 6,920 t on 14 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