India: Sponge iron prices fall d-o-d - 30 Oct

Indian sponge iron prices declined by INR 100-500/tonne (t) across key locations today.

PDRI prices were assessed at INR 24,500-26,800/t, while CDRI settled at INR 27,000-32,000/t.

Buyer caution persisted in a subdued market, which led to a drop in sponge iron prices. Purchasers were cautious and they shied away from definite commitments which resulted in muted trade activities.

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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