BigMint is a Market Intelligence and Price Reporting firm that caters to the data and analytics requirements of businesses in the commodities sector. It publishes real time prices and information, which is impartial, independent and reliable, sourced from all industry interfaces – sellers, buyers, agents and traders. This data is filtered and passed through very stringent, calculative assessments before final prices are derived, thereby giving our clients accurate pricing.

Go to List

India: Sponge iron prices inch up by INR 50-150/t d-o-d despite limited buying - 29 Jan

...

Sponge Iron

BigMint Bureau

71 Reads

29 Jan 2025, 19:00 IST

India: Sponge iron prices inch up by INR 50-150/t d-o-d despite limited buying - 29 Jan

Demand for finished steel remains subdued

Buyers turn wary amid volatile market trends

India's sponge iron prices saw a slight increase of INR 50-150/tonne (t) across various regions today. Prices increased despite cautious market sentiments, with limited buying activity observed at higher spot offerings d-o-d.

Buyers remained hesitant amid fluctuating market trends, and finished steel demand was weak. This led to subdued demand in the semi-finished steel segment.

PDRI prices stood at INR 23,800-26,600/t, while CDRI offers were assessed at INR 26,150-30,400/t at the end of today's session.

Deals for about 7,200 t of sponge iron were recorded today, compared to 6,300 t on 28 January.

Rationale

Prices have been derived based on data sets of transactions, offers, bids, and indicative prices. Transactions are considered as T1 and given a weightage of 50%, whereas other data sets are considered T2 and given a weightage of the balance 50%.

Click here for detailed methodology