India: Sponge iron prices rise d-o-d despite lower bookings - 11 Nov
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India's sponge iron prices increased by INR 50-600/tonne (t) across key locations.
PDRI prices were assessed at INR 25,300-27,500/t at close of trading, while CDRI prices stood at INR 28,000-32,000/t.
South African non-coking coal prices remained stable today, with RB2 (5500 NAR) priced at INR 9,500/t ex-works Gangavaram.
Despite the price hikes, bookings remained moderate across regions. A lower number of enquiries were heard as buyers showed caution as prices rose continuously with low transactions recorded today.
Approximately 1,400 t of sponge iron transactions were recorded in India on Monday, drastically down from 10,600 t on 8 November.
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%.
T1 - Trade, T2 - Offer/Bid/Indicative
