India: Sponge iron prices drop further amid moderate buying - 25 Jan

Indian sponge iron prices edged down today in the range of INR 50-200/t in some key locations. However, sponge iron prices only in Raipur and Jharsuguda witnessed a marginal rise by INR 50-200/t.

PDRI market prices closed at a range of INR 25,000-27,100/t and CDRI prices, at INR 26,400-31,300/t.

Today, out of the total trades reported, 53% contribution was seen from the central region (Raipur and Raigarh).

About 12,150 tonnes (t) of sponge iron transactions were recorded in the country on Thursday compared to 12,090 t on 24 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