India: Sponge iron prices drop, trade remains moderate - 18 Jun

• South African RB2 prices remain stable
  
  
• Trade volumes up by 30% today
  
  

Sponge iron prices in India witnessed a decrease of INR 150-600/t in all major regions, driven by a downtrend in the semi-finished steel today.

PDRI market prices closed at a range of INR 25,000-27,800/t and CDRI prices, at INR 27,200-32,800/t.

South African RB2 prices remained stable today. Non-coking RB2 (5500 NAR) exw Gangavaram stood at INR 10,200/t ($122/t).

D-o-d, spot trade volumes were up by 30%, with trading activity remaining moderate across regions.

About 15,100 tonnes (t) of sponge iron transactions were recorded in the country on Tuesday compared to 11,600 t on 17 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