India: Sponge iron prices fall d-o-d, trade volumes rise on lower offers - 20 Jun

Sponge iron prices in India fell by INR 100-550/t on 20 June, 2024.

PDRI market prices closed at a range of INR 24,500-27,200/t and CDRI prices, at INR 26,500-31,800/t.

South African RB2 prices dropped by INR 100/t. Non-coking RB2 (5500 NAR) exw Gangavaram stood at INR 10,100/t ($121/t).

Trading activity increased on lower offers, especially in the central and eastern regions.

About 24,150 tonnes (t) of sponge iron transactions were recorded in the country on Thursday compared to 13,650 t on 19 June.

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