India: Sponge iron prices increase marginally on moderate demand - 25 May

Sponge iron prices in the domestic market have increased in certain key locations in the range of INR 50-350/t due to moderate demand and firm offers floated by manufacturers. However, market players are cautious and have taken a wait-and-watch stance amid volatility in the market.

Trade volumes declined to 12,690 t on 25 May compared to 18,740 t recorded yesterday.

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%.

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T1 - Trade, T2 - Offer/Bid/Indicative