India sponge iron prices range-bound d-o-d amid limited buying interest - 17 June

Sponge iron prices in India remained more or less stable d-o-d in the key markets today. Prices inched lower by INR 50-200/t only in the southern region due to lack of buying enquiries in the spot market.

About 4,150 tonnes (t) of transactions were recorded today across India as against 17,750 t on 16 June.

Trading activity softened as market participants lacked confidence about the price movements. Due to low interest among buyers, bids also remained on the lower side.

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