India: Sponge iron prices exhibit mixed trends amid moderate trade d-o-d - 16 Aug

Today's trends in India's sponge iron market were mixed. Prices decreased by INR 50-100/tonne (t) across major locations. Meanwhile, Jharsuguda, Raipur, and Rourkela saw increases of INR 100-150/t.

PDRI prices were around INR 23,300-26,500/t by the close of trading, while CDRI prices ranged from INR 26,000-29,800/t.

South African non-coking coal prices remained stable, with RB2 (5500 NAR) grade coal priced at INR 9,650/t ($114/t) exw-Gangavaram.

Market activity was subdued today, with fewer inquiries and only need-based purchasing leading to moderate trade volumes. Approximately 8,700 t of sponge iron transactions were recorded today, up from 6,650 t on 14 August.

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