India: Sponge iron prices edge up on improved demand - 27 Jan

Sponge iron prices in key Indian markets increased by INR 50-600/t on 27 January, 2024.

PDRI prices closed at a range of INR 25,250-27,200/t, while CDRI prices were assessed at INR 26,450-31,400/t.

Trading activity increased on improved demand across regions.

About 15,510 tonnes (t) of sponge iron transactions were recorded in the country today compared to 11,050 t on 25 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