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India: Sponge iron prices decline on weak spot demand - 9 Sep

Sponge iron prices decreased in the range of INR 100-450/tonne (t) in major markets of India on 9 September, 2023. Spot demand for semi-finished steel remained weak today...

Sponge Iron
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9 Sep 2023, 16:29 IST
India: Sponge iron prices decline on weak spot demand - 9 Sep

Sponge iron prices decreased in the range of INR 100-450/tonne (t) in major markets of India on 9 September, 2023. Spot demand for semi-finished steel remained weak today, causing sponge iron prices to plummet further.

Approximately 3,050 tonnes (t) were transacted on Saturday as against 11,360 t recorded on 8 September.

Notably, the weak demand for sponge iron was caused by a significant decline in market activity for semi-finished and finished steel segments across the country.

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

9 Sep 2023, 16:29 IST

 

 

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