India: Sponge iron prices fluctuate amid volatile steel prices - 15 Apr

Sponge iron prices saw mixed trends across India as steel prices were volatile today. While prices fell in the range of INR 50-150/t in some key locations, prices in the southern region increased marginally by INR 100-150/t. Low demand for sponge iron was seen and spot trade volumes decreased by 40% d-o-d, which had a negative impact on the market as there was little buying activity and bids were on the lower side.

A total of 7,370 t of transactions were recorded today as against 12,290 t on 14 April.

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