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India: Sponge iron prices fall by INR 50-150/t d-o-d on weak market sentiment- 26 Dec

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Sponge Iron

BigMint Bureau

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26 Dec 2024, 19:12 IST

India: Sponge iron prices fall by INR 50-150/t d-o-d on weak market sentiment- 26 Dec

Sponge iron prices in India decreased today by INR 50-250/tonne (t) across regions due to weakened market sentiment.

Buying demand remained modest on Thursday, impacted by sluggish movement in the semi-finished and finished steel segments, leading to further reductions in offers.

PDRI prices closed within the range of INR 23,600-25,800/t, while CDRI prices were assessed at INR 25,700-29,800/t.

Approximately 5,150 t of sponge iron transactions were recorded today.

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