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India: Sponge iron prices drop, trade volumes rise on lower offers - 30 May

Sponge iron prices in some key locations in India fell by INR 100-500/t on May 22, 2023. On the other hand, sponge prices in Durgapur and Mandi Gobindgarh saw an uptick o...

Sponge Iron
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30 May 2023, 18:23 IST
India: Sponge iron prices drop, trade volumes rise on lower offers - 30 May

Sponge iron prices in some key locations in India fell by INR 100-500/t on May 22, 2023. On the other hand, sponge prices in Durgapur and Mandi Gobindgarh saw an uptick of INR 50-300/t.

Demand emerged at lower prices, resulting in an increased trading activity, especially in the eastern and central regions. However, market players were cautious due to a lacklustre response from the finished steel segment.

About 23,390 tonnes (t) of sponge iron transactions were recorded today in India as against 14,520 t on 29 May.

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

 

30 May 2023, 18:23 IST

 

 

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