India: Sponge iron prices drop further, trade picks up on lower offers - 13 Oct
Sponge iron prices in key locations of India fell further by INR 150-500/tonne (t) on 13 October, 2023. Demand was seen at lower prices, resulting in an increase in tradi...
Sponge iron prices in key locations of India fell further by INR 150-500/tonne (t) on 13 October, 2023.
Demand was seen at lower prices, resulting in an increase in trading activity, especially the central region (Raipur) witnessed increased trading today.
PDRI prices closed at a range of INR 27,600-29,250/t and CDRI prices at INR 29,600-35,000/t.
About 17,060 tonnes (t) of sponge iron transactions were recorded in the country on Friday compared to 6,150 t on 12 October.
Overall, market players are still cautious due to continuous price swings in the market.
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
