India: Sponge iron prices remain range-bound d-o-d - 11 Jul

Sponge iron prices in India showed mixed trends today. Prices increased by INR 50-600/t in some locations. On the other hand, prices decreased by INR 100-300/t in other regions.

Sponge iron prices fluctuated throughout the day across the country which supported improved buying activity in central-eastern region, which led sellers to increase their spot offering d-o-d.

PDRI prices closed at a range of INR 24,200-26,550/t while CDRI prices were assessed at INR 26,000-30,000/t.

South African RB2 (5500 NAR) coal prices remained stable today at INR 10,000/t ($121/t) ex-Gangavaram.

About 20,350 t of sponge iron deals were concluded today against 9,900 t on 10 July.

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