India: Sponge iron prices edge up d-o-d even as trade activity remains limited - 10 June

Indian sponge iron prices inched up by INR 50-150/t in some key markets. However, trade activity was scant. Whereas in central region, prices saw a marginal fall of INR 100-150/t compared to the last trading day.

About 7,100 tonnes (t) of transactions were recorded today across country as against 10,320 t recorded on 9 June.

The semi-finished steel market was dull with prices falling due to weak buying activity and limited trade.

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%.

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T1 - Trade, T2 - Offer/Bid/Indicative